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flag ★ Buying and selling on the stock market 03/03/21

Forex Analysis:::2021-03-03T06:12:53

Buying and selling on the stock market 03/03/21

Purchase of MMM - 3M Company

According to the daily scale chart, the quotes of the American broad-profile industrial conglomerate 3M Company have formed a triangle The price reflected from the lower line of the triangle yesterday, and the transition of the signal line of the Marlin oscillator in the positive report about the intention prices emerging from the triangle is up as graphical figures continue the trend. The growth target of 192.20 is the nested line of the growing price channel.

Buying and selling on the stock market 03/03/21

Sale to IBM Corporation

The company's shares are in a global 96-month downtrend. In the last year, the price moved between the nested trend lines of this trend and mainly under the Kruzenshtern Indicator Line.

Buying and selling on the stock market 03/03/21

In January, the price went down from the upper trend line (big arrow), last week the price turned exactly from the Kruzenshtern line. Such a double retest of resistances level can lead to a good subsequent downward movement. We focus on the range of nested lines of the price channel 109.40 - 112.20. In the case of consolidation under it, the fall will continue to the lower line in the area of 103.00.

The Marlin oscillator has been in the zone of the declining trend for the last 5 weeks.

Buying and selling on the stock market 03/03/21

Based on the daily chart, the price is fixed under the Kruzenshtern line. The price is also located under the balance indicator line, which indicates the priority of sales. The Marlin is back in the downward trend zone.

Analyst InstaForex
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