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4-Traders Homepage  >  Equities  >  Nyse  >  3M Company    MMM

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A breakout of the resistance

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07/27/2012 | 03:23pm

3M conducts operations in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets. The Company's businesses share technologies, manufacturing operations, brands, marketing channels, and other resources. 3M serves customers in countries located around the world.

The company released its results for the second quarter, and lightly beat estimates, with earnings per share of 1.66 vs. estimates of 1.65, according to Bloomberg. The management has also reaffirmed the full year forecast with an EPS between $6.35 and $6.5.

Technically the share is testing one more time its mid-term resistance. Moving averages are bullish oriented, that could lead the share to break out this level. In this case we could forecast a return on the historic highs of USD 98.

For this reason we suggest a long position above USD 90.85 with a stop loss below the 20-day moving average in order to cover the position.

Oscar Salza
© Zonebourse.com 2012
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Disclaimer: The information, charts, data, views, or comments provided by SURPERFORMANCE SAS are intended for investors who have the necessary knowledge and experience to understand and appreciate the information contained within. These items are disseminated for personal reference only. They do not constitute an offer or solicitation to buy or sell financial products or services, nor an investment advice.
The use of the information disseminated takes place under the investor's sole responsibility, without recourse against SURPERFORMANCE SAS. SURPERFORMANCE SAS will not be liable, whether in contract, in tort, under any warranty, for errors, omissions, improper investments, or adverse evolution of markets.

Financials ($)
Sales 2018 33 737 M
EBIT 2018 8 320 M
Net income 2018 6 350 M
Debt 2018 9 692 M
Yield 2018 2,30%
P/E ratio 2018 22,29
P/E ratio 2019 20,14
EV / Sales 2018 4,37x
EV / Sales 2019 4,24x
Capitalization 138 B
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Duration : Period : Day
3M Company Technical Analysis Chart | MMM | US88579Y1010 | 4-Traders
Duration : Period : Week
3M Company Technical Analysis Chart | MMM | US88579Y1010 | 4-Traders