3M Company (MMM), showed up on the radar in December in Playing 3M Both Ways. It shook out traders with a move higher and then pullback with the market in January. But on a longer weekly timescale it shows a really strong trend higher that has been supported by the rising 20 week Simple Moving Average (SMA). The January pullback brought it right down to that level and it has been riding it higher since. That gives a level to trade against. Placing a stop underneath that level gives a good reward to risk trade. As an alternative you can define your risk buying the 135 Strike Call in April, about $2.70, or July, about $4.85, for a simple trade. The option trade does give up the dividend though. I bought some of the July calls Thursday at $4.80.
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