3M (MMM) Offering Possible 8.7% Return Over the Next 36 Calendar Days

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3M’s most recent trend suggests a bullish bias. One trading opportunity on 3M is a Bull Put Spread using a strike $195.00 short put and a strike $185.00 long put offers a potential 8.7% return on risk over the next 36 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $195.00 by expiration. The full premium credit of $0.80 would be kept by the premium seller. The risk of $9.20 would be incurred if the stock dropped below the $185.00 long put strike price.

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

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

The RSI indicator is at 64.78 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for 3M

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Tue, 12 Jun 2018 12:00:00 +0000
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3M Completes Its Communication Markets Division Sale to Corning
Tue, 12 Jun 2018 11:35:34 +0000
On June 4, 3M (MMM) announced that it had completed the sale of most of its Communication Markets business to Corning (GLW). MMM entered into a definitive agreement with GLW in December 2017, and the deal was expected to garner $900.0 million for 3M.

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