{"id":8515,"date":"2025-02-12T11:02:33","date_gmt":"2025-02-12T11:02:33","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=8515"},"modified":"2025-05-12T09:48:40","modified_gmt":"2025-05-12T09:48:40","slug":"3m-feb-2025","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/chart-of-the-day\/3m-feb-2025\/","title":{"rendered":"3M Stock at Resistance After Bullish Break of Falling Wedge"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

The 3M stock (MMM) has seen a major break of a falling wedge pattern,<\/a> developed since 2018. It is currently meeting some resistance at its 2022 Highs of $151.55.<\/strong> <\/p>\n\n\n\n

A rejection from here could send the asset back down to test a Daily Market Gap between $141.70 to $145.94, <\/strong>which was created in January with 3M’s positive earnings report.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

If the gap does not hold, 3M stock does have the potential to retest its Falling Wedge trendline,<\/strong> which now sits between $128 to $120<\/strong>.<\/p>\n\n\n\n

However, if a rejection does not occur now, the next bullish pit stop for the stock would be at $174.53, its 2021 Highs.<\/strong> With the CPI data coming out today, traders are advised to stay cautious while watching for opportunities. <\/p>\n\n\n\n

News to Keep Track Of<\/h2>\n\n\n\n

Today, the US CPI data is releasing<\/a>, which could impact dollar’s strength and the short term direction of stocks. The next earnings report is on April 29th, 2025, which could act as a catalyst for a major rally or rejection, depending on where the 3M stock price is at the time of the news.<\/p>\n\n\n\n

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