Is This A "Top" For Home Improvement Stores? Tue, Aug 14, 2018

I Bought This Dow Stock Today

This is a Post from the Symbol Surfing Blog from Tue, Jul 17, 2018.

Of course, you are familiar with dividend aristocrat 3M. 

MMM is a $119 billion dollar market cap company with a relatively low PE Ratio and a 2.6% dividend.

The 5 year chart clearly shows an uptrend with a 74% return.

Most recently, the stock price has fallen from the record high of $259.77 on Fri, Jan 26, 2018 through the top of the range down to the bottom of the range.

The 1 year chart shows an overall return of -4%.

The first half of the year was great for investors as the stock went from $200 to almost $260.

The second half of the year shows a different story.

The stock price went from $260 to $200.

The past 2 earnings dates seemed to be triggers for selling.

What I like about this is that the price is in a sweet spot for me.

On both, the 5 year chart and the 1 year chart, the stock price is holding at support.

Over the past few months, the stock has been trading sideways around $200.

With that said, it looks like MMM is holding at this price and there is potential for an upside move.

So I bought a few shares today.

I am aware that the next earnings date is next Tuesday on July, 24, 2018.

I wouldn't be surprised to see a rally into earnings.

If there is a decent move between now and the earnings release, I will sell.

Otherwise, I have no problem holding the shares longer.

The top of the trading range looks like $220.

That would be great if I could sell there.

What do you think?

Tue, Jul 17, 2018 MMM @ $202.07