MMM trade ideas
Earnings - This WeekInteresting Earning this week.
AAPL , CMG , COF looks good for iron condor
MMM - looks better for bearish side, Too big of a run past earnings.
Simple Trading Techniques – Pullback Candlestick Strategy
Go long the MMM if it trades at 167.13 or higher. If triggered, place your stop at 164.64 and exit the position for a profit at 169.32 or at your own discretion. (Signals are valid for 1 day only. Always invest wisely).
Learn the rules of this strategy at: www.udemy.com
3M: Revisiting the shoulder levelI have in mind launching a private stock market index called the Speculative Index with a portfolio comprising of long and short positions in DJIA companies based on speculation, just for fun and experimentation, you know. That could hardly be called an index, I know, but let's not talk about it. I will begin publishing ideas about the related stocks, then I will make a test run with a transparent portfolio statement and announce the P/L statistics. So this one is the first analysis in the series. I will tag the analyses "speculative-index" so that the interested may easily reach them.
It seems the market wants to retest the old levels, so our position would be long on this stock.
DOW JONES OVERVIEW: 3M RISKS TO TEST 10-YEAR TREND3M price is in a very tricky situation...
On long term basis it failed its 5-year (260 weeks) uptrend test by falling below the 1st upper standard deviation from 5-year mean. It's 10-year uptrend is still intact, as price is trading above upper 1st standard deviation from 10-year (520 weeks) mean.
On short term price is in downtrend on quarterly basis (below 1st st deviation from quarterly (66-day) mean, which is now allinged with upper 1st standard deviation from 5-year mean)
Price has also fallen below upper 1st standard deviation from 1-year (264 days) mean, risking downtrend on 1-year basis.
Thus if 3M continues to trade below 1st standard deviation from quarterly mean (149) and below 1st standard deviation from 1-year mean (144.75), it risks to retest the 10-year trend border, marked by the upper 1st standard deviation from 10-year mean (130)
Last week's bullish play worked as planned - Now bearish? Last week's bullish scenario lead 3M to the resistance zone mentioned in the newsletter.
Now it is a test for both bulls and bears.
Will the bearish setup play out this week or will the bulls push 3M to new high?
Check out the complete analysis on this week's newsletters - marketzone.tumblr.com
Subscribe to the Weekly Markets Analysis newsletters here - www.themarketzone.net
Waiting for Parabolic confirmation to trigger a long positionFollowing a fake out (breakout rejection) from a bearish rising wedge. A Parabolic switch will trigger long positions.
Open 3 positions for the two main targets on confirmation with an additional position for continuation. Move stops to protect positions once price has cleared them.
Good Luck!
3M – time to buy?It is high time we look at 3M chart again. Last time I analysed it in November 2014. The gauge was caught in the middle between the support level of a rising trend of October 2011 and the 261.8% Fibonacci resistance level against a fall from October 2007 to April 2009. On the monthly chart, the situation is virtually unchanged, the risk/reward ratio is equal both in terms of buying and selling. As for smaller time frames, security holders must be feeling quite comfortable. On daily and weekly charts, there are signals that the reading is rather likely to reach the USD 188 resistance level than the USD 150 support level. I would like to underscore once again that this is a positive moment for security holders. If someone was not in time to buy them, it is illogical to count on growth given what the technical analysis shows in terms of the risk/reward ratio.
s30707642478.whotrades.com
MMM Excess Supply & Cyclical Resistance. $144 zone.Supply taking down MMM since 2014.12.18. Support at $159 - 158 likely to provide bounce into lo demand right shoulder. next support is in $144 area.
3M CompanyThis may sound somewhat unbelievable, but many of the things that make our daily life easier were invented at this company – 3M. For this reason, at Warren Buffett’s behest, every self-respecting trader should watch for and purchase 3M equities, whose goods and services we all use.
But what is the motivation for buying into 3M? Multiyear upside in these shares looks simply too good to be true. The name appears to be visibly overpriced.
Sad but true. However, in addition to the high cost, there are also high aims. There is currently only one obstacle – the USD 188 mark (the 261.8% Fibonacci retracement level of the 2008-2009 downturn). That makes the gambit really quite simple: before buying into 3M let’s wait until it reaches the support level of a rising trend as of end 2011, around USD 132-135.
MMM strength to the upsideMMM has periods where it trends really well. But this year there have been two deep pullbacks which would've stopped most trend traders out of their buy positions.
Since price broke above the September pivot high the candles have not been overly convincing. There was a gap up on 31st October but it was a doji, followed by a gravestone doji, which did not inspire confidence. However, the next bar broke out on higher volume so this could've been the first opportunity to get into this trade.
Yesterday another bullish flag was confirmed (on higher volume) offering traders the opportunity to now consider entering long on MMM (or add to their trade).
MMM ascending triangleMMM, like TGT ascending triangle on descending volumes.
Not confirmed yet.
If it breaks resistance B-D, could continue
its uptrend.
Target is 152.33$.
Waiting for confirmation.
3M Beginning to Lose SteamDistribution appears to be taking place in the daily time frame as a triple top as formed, and about to test support gained for the third time. Monthly, and weekly charts are also beginning to show possible signs of momo death. These are the swing target areas I'm interested in once 143 fails.
Long Position Break out 140,43Position Break out wave 3
Daily chart above 2 days 140,43 next target wave 3 144,49 end correction 138,80 wave 4 the next target 150,82 the wave 5 end close posisitio
Thanks end good luck
