MMM 3M Company, also known as Triple M, what a two year ride it has been. Two Inverted H&S patterns have played out now; the left shoulders are off the chart to the left so do not let that confuse you. The pink lines show a head of 38, neck of 63, that is a 25 difference, thus, 63+25=88 target that was attained as the leaves began to fall in the autumn. The green lines H&S shows a head of 38 and neck line of 66, so that is a 28 difference, thus, 66+28=94 target that is attained now. Thus, a topping in price should be expected.
Currently, a rising wedge has printed, and there is negative divergence not only on this weekly chart but also the daily chart. Enjoy the current view since price should only move lower from here on out. Trip M will emphasize the
trip moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.