Blue-Chip Consumer Goods Sock Could See Tailwinds
MMM3M(MMM) Schaeffers Investment Research·2024-07-12 23:06

After hitting a May 20, 52-week high, consumer goods stock 3M Co (NYSE:MMM) pulled back to its 20-day moving average and 100centurymark.BuyingfollowedabullishpostearningsreactioninearlyMay,evenasretailclientsatmajorbrokerageswerenetsellersduringthemonth.Sincethen,MMMtookoutits2020lowat100 century mark. Buying followed a bullish post-earnings reaction in early May, even as retail clients at major brokerages were net sellers during the month. Since then, MMM took out its 2020 low at 97 and later retested that level.  Only four of 12 analysts in coverage rate the equity a "buy." This leaves plenty of room for upgrades as MMM’s technical backdrop improves, especially con ...