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TMCNet:  After Yesterday's Rally of 1.51% Shares Could Potentially Pullback

[November 23, 2012]

After Yesterday's Rally of 1.51% Shares Could Potentially Pullback

Nov 23, 2012 (SmarTrend(R) News Watch via COMTEX) -- 3M (NYSE:MMM) traded in a range yesterday that spanned from a low of $89.15 to a high of $90.33. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $89.68 on volume of 999,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

3M share prices have moved between a 52-week high of $95.46 and a 52-week low of $75.49 and are now trading 20% above that low price at $90.28 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend is tracking the current trend status for 3M and will alert subscribers who have MMM in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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