3M stock forecast and price prediction
Updated on:
Jul 29th, 2021
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3M forecast brief
- 3M stock inched down -1.09% to close at $198.28 on the stock market on Wednesday.
- 3M released its financial report on Tuesday
- From the chart point view, price is drawing an scaled downtrend since last May with lower tops and lower bottoms. this downtrend marked a -4.41% loss(from its highs at $207.42).
- 3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer.
3M stock price forecast
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are published every day by banks, financial institutions and independent analysts.
The following table shows the price predictions released by analysts over the last 30 days. Again, these estimates are not direct recommendations for individual investors and must not be trusted blindly.
In the last 30 days we couldn't find any price target published for 3M stock.
Analysts recommendations
We don't have any rating posted in the previous month for 3M
Earnings and financials
Investors call was hosted by 3M ($MMM) on Tuesday after presenting the earnings report.
This compares to Earnings of $1.78 per share same quarter last year, so current EPS is -100.00%. Looking at revenue, figures climbed a 9.61% compared to $80.8B same quarter a year ago.3M ($MMM) is releasing quarterly financial report next October.
3M stock: buy or sell?
Is $MMM stock a buy?
3M had no ratings in the last 30 days Read the article to get additional tips on trading MMM stock.Currently, 3M stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $MMM in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Is it time to sell 3M stock?
In the current situation of 3M there is not any eligible sell setup, so 3M stock holders with operations in profit can keep their positions
3M stock technical predictions
3M accumulates a selloff of -4.41% since its latest peak last May at $207.42. Like in all downtrends, the stock oscillates drawing lower highs and lows. In this case, we have seen 3 consecutive lower tops.
SMAs overview
Supports and resistances
The current resistances are:
The current supports are:
Bollinger bands
The evolution of the Bollinger Bands on the chart reveals that they are relatively narrow (less than 5%), which clearly indicates that price volatility is low. Reduced volatility is often the antecedent to a sudden movement (up or down), so we must be alert and manage our buy or sell orders appropiately
Relative strength index
The RSI broke out the oversold line of 30 in mid-June after just being in the oversold zone for 1 day (what can be considered a strength sign). The RSI value on Wednesday was 47.08
3M stock price history
3M went public priced at an adjusted price1 of $1.46 on Jan 1970. Since then, MMM stock has risen by 13,480.82%, with an average of 264.33% per year. An investment of thousand dollars on the IPO would have a value of $135,808.22 nowadays.
1: Adjusted price after possible price splits or reverse-splits
Please read:
The viewpoints contained in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this paper does not have an understanding of the specific situations of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are provided for general educational purposes only3M summary
| Wednesday, July 28th, 2021 | |
|---|---|
| Open | $199.32 |
| Close | $198.28 |
| Day range | $198.1 - $200.37 |
| Previous close | $200.47 |
| Session gain | -1.09% |
| Average true range | $3.90 |
| 50d mov avg | $199.97 |
| 100d mov avg | $197.00 |
| 200d mov avg | $183.20 |
| Earnings date | October 26th, 2021 |