Market Overview

Going Long Easy As One Two 3M Co (NYSE:MMM)

The broader markets seem to be in the midst of some type of correction as the sell off is continuing today. With these declines I am seeing potential levels to buy stocks such as 3M Co (NYSE: MMM). This giant conglomerate is off about 1.70% and almost 4% from its high of $147.87, set back on September 19. If this market is indeed headed for lower levels then a stock such as 3M Co (NYSE: MMM) should be on your buy list. On the chart below I have singled out the level of $139 as a great level to buy this stock on the long side. This a level where 3M Co (NYSE: MMM) previously found support, this is also where the daily 200ma will rise into and a proprietary level which resides there too. I will keep an eye on this chart and you should too if you want to make money.
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Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.


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