3M $MMM swing trade setting up for potential upside

Portfolio: Operating (swing trade)
Ticker: $MMM



Position status: $MMM swing trade position was opened in July and have closed 75% at profit. I am still holding $455 capital with about $99 unrealized market gain (see snapshot below).

Reason for swing trade: $MMM has dropped significantly since S&P500 hit highs in February, a crazy high volatile month.  From a high of about $269, it has since broken down to a low $200.  That said, this drop cannot keep on going.  I noticed that the bulls held the support at around $200 since May. To me, this shows a strong support.  Price of $MMM has since showed potential upside as it continues to registed higher highs and higher lows. As soon as the prices crosses SMA200 and holds that bullish levels, I will hold my small position until trend will show cracks and possible breakdowns.




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