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- 1/15/2021 -
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3M Company (MMM)

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Summary:
Weekly :Weekly  MACD line has moved below its signal lineBroken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldMACD bullish divergence
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It was the negative week for the 3M Company (MMM). During the week, the MMM gave back -1.07 points, or -0.64%, and closed at 165.55 on Friday, January 15, 2021. Weekly volume was -18% below average.

Long-term trend: [See MMM long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 114.04 and reached 179.63 on November 27, 2020. MMM gained -65.59 points, or -57.51%, in 35 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (193.44) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. MMM may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See MMM medium-term trend chart]
A medium-term downtrend had started on November 27, 2020 at 179.63 and reached 163.43 on January 15, 2021. MMM lost 16.20 points, or 9.02%, in 7 weeks. The price is now at the 13.09% retracement level.

Weekly Technical Indicators: [See MMM weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See MMM short-term trend chart]
A short-term downtrend had started on January 13, 2021 at 167.74 and reached 163.43 on January 15, 2021. MMM lost 4.31 points, or 2.57%, in 2 days. The price is now at the 49.19% retracement level.

Daily Technical Indicators: [See MMM daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is below its signal line since December 21, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 26.80
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 16.00
Oversold
Greed/Fear Indicator (GFI) 19.49
Oversold
Moving Average Converg./Diverg. (MACD) -0.88 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.21
Williams' Percentage Range (W%R) 59.60
Lane's Stochastic (%D-Slow) 62.69
Greed/Fear Indicator (GFI) 50.14
Moving Average Converg./Diverg. (MACD) 3.50
Trading Signals
Description Value Chart
Quarterly Trendline Support 193.44
Quarterly Trendline Resistance 182.88
Upper Bollinger Band 178.06
Weekly Stochastic Crossing 173.02
Parabolic System 171.83
20 Day Moving Average 171.67
50 Day Moving Average 171.50
Daily Stochastic Crossing 165.70
Price 165.55
Lower Bollinger Band 162.20
Sector and Industry
Description Name Rank
Sector Industrials 5
Industry Industrial Conglomerates 50
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 167.74
High Date 01/13/2021
Low 163.43
Low Date 01/15/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 167.74
High Date 01/13/2021
Low 163.43
Low Date 01/15/2021
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 179.63
High Date 11/27/2020
Low 163.43
Low Date 01/15/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 182.88
Support 193.44
Low 114.04
Low Date 03/23/2020
High 179.63
High Date 11/27/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 259.77
High Date 01/26/2018
Low 114.04
Low Date 03/23/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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