3M Slumps On Earnings: Watch This Support
InTheMoneyStocks.com | May 01, 2018 01:53PM ET
Shares of 3M (NYSE:MMM) slumped again on Tuesday morning, down for the sixth straight day following poor earnings results. While most investors shy away from charts like this, the real pros get excited. After hitting a major gap fill at $192, the metrics on 3M scream "oversold technical bounce." This is coupled with a time-count factor and pivot support. The triple threat combination signals a strong likelihood of a swing-trade bounce back to $200 in the coming days/weeks, perhaps as high as $210.
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