Monday, January 28, 2013

3M (MMM) - Chart of the Day

3M (MMM) is a stock will an A++ financial strength rating that has been off the charts with 18 price advances in the last 20 trading sessions.

A look at the Barchart New Highs/Lows list today shows 3M (MMM) as a solid manufacturing conglomerate with an A++ financial strength rating that had 18 price advances in the past 2 trading session. The stock posted solid increase in both revenue and earning in the latest financial report and is finally getting a head of steam. The stock has been a Trend Spotter buy since 12/1 and has been trading above its moving averages since 12/31

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the web site when you read this report.

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 18 new highs and up 9.69% in the last month
  • Relative Strength Index 80.44
  • Barchart computes a technical support level at 99.06
  • Recently traded at 100.68 with a 50 day moving average of 93.53
Fundamental factors:
  • Market Cap $69.60 billion
  • P/E 15.94
  • Dividend rate 2.35%
  • Financial strength A++
  • Analysts calls: 4 strong buy, 3 buy, 10 hold 1 under perform
  • Revenue projected to increase by 5.20% this year and 5.30% next year
  • Earnings estimated to increase by 8.10% this year, another 9.80% next year and continue to increase annually by 9.83% for the next 5 years
Exit Strategy: Sell when it losses 10% from your purchase price or when the stock fall below its 50 day moving average.

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