In today’s stock spotlight, we turn to 3M Company, which is currently defending a crucial horizontal support zone around $141. This level, marked in yellow on the chart, has served as a key resistance in September–October, before being successfully retested as support in March. Now, it's under pressure again.
What's adding strength to this zone is the confluence with a dynamic uptrend line—a black diagonal support guiding higher lows since the start of the year. Together, these two supports have created a bullish platform, with the next upside target at the orange resistance zone near $155.
That said, this technical picture reflects Wednesday’s session, and we have to acknowledge that Thursday's pre-market sentiment is significantly weaker, due to overnight news of fresh tariffs and a risk-off tone in American indices. This could weigh heavily on 3M’s ability to hold the support.
If today’s session closes below the $141 support, it would mark a decisive bearish breakout, activating a strong signal to sell. On the other hand, if the support holds despite market pressures, this could present a high-risk, high-reward buying opportunity, targeting $155.