3M Co. (MMM) bearish scenario:

23 янв. 2023 г.

The technical figure Triangle can be found in the daily chart of the US company 3M Co. (MMM). 3M (originally the Minnesota Mining and Manufacturing Company) is an American multinational conglomerate operating in the fields of industry, worker safety, U.S. health care, and consumer goods. The company produces over 60,000 products under several brands, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products, electrical and electronic connecting and insulating materials, medical products, car-care products, electronic circuits, healthcare software and optical films. The Triangle broke through the support line on 20/01/2023. If the price holds below this level, you can have a possible bearish price movement with a forecast for the next 22 days towards 108.57 USD. Your stop-loss order, according to experts, should be placed at 129.63 USD if you decide to enter this position.

Wall Street will be looking for positivity from 3M as it approaches its next earnings report date. This is expected to be January 24, 2023. On that day, 3M is projected to report earnings of $2.34 per share, which would represent year-over-year growth of 1.3%. Meanwhile, our latest consensus estimate is calling for revenue of $8.04 billion, down 6.69% from the prior-year quarter.

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