3M (MMM) Offering Possible 9.53% Return Over the Next 23 Calendar Days

3M's most recent trend suggests a bearish bias. One trading opportunity on 3M is a Bear Call Spread using a strike $170.00 short call and a strike $180.00 long call offers a potential 9.53% return on risk over the next 23 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $170.00 by expiration. The full premium credit of $0.87 would be kept by the premium seller. The risk of $9.13 would be incurred if the stock rose above the $180.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for 3M is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for 3M is bearish.

The RSI indicator is at 79.19 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for 3M

3M Co. stock outperforms competitors on strong trading day
Mon, 24 Aug 2020 20:25:00 +0000
COMPANY CLOSE UPDATES Terrence Horan Shares of 3M Co. MMM advanced 1.13% to $163.53 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX rising 1.

Is 3M a Bargain or a Value Trap?
Mon, 24 Aug 2020 16:47:29 +0000
A venerable company's share price is down, driving up the dividend and perhaps creating an opportunity

3M Co. stock rises Friday, still underperforms market
Fri, 21 Aug 2020 20:25:00 +0000
COMPANY CLOSE UPDATES Terrence Horan Shares of 3M Co. MMM inched 0.13% higher to $161.71 Friday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.

New Canadian face mask plant to help avoid 'terrifying' shortages during pandemic – premier
Fri, 21 Aug 2020 19:35:19 +0000
A 3M Co Canadian plant capable of supplying 50 million N95 face masks a year will help stave off “terrifying” shortages during the coronavirus pandemic, the leader of Canada's most populous province said on Friday. Ottawa and the province of Ontario decided to invest C$23 million ($17.5 million) each to expand the facility after experiencing serious problems as they tried to stock up on foreign-made personal protective equipment (PPE) for health care workers in the first weeks of the outbreak. “We were left in a terrible, terrible situation … and the terrifying reality is, at one point back in April, Ontario was left with less one week's supply of N95 masks,” Premier Doug Ford told reporters.

PRESS DIGEST-Canada – Aug 21
Fri, 21 Aug 2020 12:34:46 +0000

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