BY LICIA LESLIE
May 8, 2024
Hi Shoppers,
The 3M Company (Ticker: MMM) has had a nice pop after earnings but is now losing steam.
The price action created last Wednesday created a doji and the stock has been selling off ever since.
Yesterday it closed below the median line:
Support comes in at $92.75 and $91.00.
Use a close above $96.40 as your stop loss.
Trade Review
SPDR Gold Trust ETF (Ticker: GLD) has traded higher and the chart still looks bullish but the dollar has caught a bid so keep your eye on that.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain