At the start of the year, MMM continued to rise higher before the rally temporarily transitioned into a consolidation phase. February brought slight downward pressure, but after a brief spike back to $141 last week, buying interest returned noticeably. This triggered a strong upswing, with the stock gaining nearly 10% in just a few trading days. As a result, we have identified an internal five-wave structure within the turquoise wave 5 and now primarily assume that the magenta wave [v] is already unfolding. This wave should extend further upward, marking the completion of the broader magenta wave (1). Afterward, we anticipate a significant wave (2) correction, which could also begin earlier. In this 35% likely alternative scenario, the stock would experience a premature sell-off below the $131.40 support, with wave alt.(2) eventually reaching our magenta Target Zone between $106.04 and $86.20.
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
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해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.