3M (MMM): Patience Before Next Steps

Wall Street analysts estimate that 3M will report quarterly earnings of $1.66 per share next week, reflecting a significant 31.4% year-over-year decline. Revenues are projected at $5.79 billion, down 27.7% compared to the same quarter last year.

As we mentioned previously, we have not yet set a clear limit for 3M and continue to monitor its chart closely. The current structure suggests that the alternative scenario, where wave 1 is positioned higher, appears increasingly likely. However, a significant surge beyond this point does not seem probable at this time.

We’re keeping a close watch to determine where this wave 1 establishes its top before making any further moves. Patience remains key as we refine our conclusions on MMM’s next steps.