MMM - Channeling Reversal

5 ส.ค. 2020

MMM

SWING TRADE
MMM showing signs of a reversal in it's current channeling pattern.
(An elaboration of my previous idea)

Reasons:
1. Potential 4th bounce off support
2. Crossing of 9 & 50 MA
3. Large bars previously pushing down
4. Huge Volume down trending ending bar
5. Recently crossed up RSI 30
6. MACD cross over signal below 0

Entry: 151.18
Target: 159.06
Stop Loss: 148.75
Risk Reward: 3.16