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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 the company 3M.

"The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation operating in the fields of industry, health care, and consumer goods." Wikipedia

From an investing perspective, it is a Dow 30 stock and Dividend Aristocrat

MMM is a $119 billion US large cap stock with a positive Earnings Per Share, relatively low Price To Earnings Ratio and a 2.6% Annual Dividend Yield.

The 5 Year Chart

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

A $10,000 investment 5 years ago would be worth $17,400 today.

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

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.

Earnings Dates

The stock price went from the record high of $260 down to a 52 week low of $190.

It looks like the stock price got ahead of itself.

The past 2 earnings dates (the vertical black lines) seemed to be triggers for selling.

Post Earnings Move (PEM)

The stock price is now higher since the most recent Earnings Date and off the 52 week low level.

This is a bullish sign for me.

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 about "I Bought This Dow Stock Today"?

Let me know in the comments section!

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Hello! My name is Tom Adishian and I am the creator and developer of Symbol Surfing. I use this site on a daily basis as a time-saving resource to identify trading and investing ideas. If you have a comment, question or suggestion, contact me.

$table: history_mmm_

Tue, Jul 17, 2018 MMM @ $202.07