$MMM has been in a “Go” trend since mid November ’23.
Now, price has moved slightly against the trend since the Go Countertrend Correction Icon (red arrow) that we saw just after high at the beginning of this year. GoNoGo Trend then painted a majority of aqua “Go” bars reflected the weakness we saw in the trend. During that time, GoNoGo Oscillator fell to test the zero line from above where we looked to see if it would find support. For several bars, it remained at zero, allowing the climbing grid of GoNoGo Squeeze to climb to its Max. There was on bar that dipped into negative territory but now the oscillator is back at zero again, showing the lack of directional momentum in the stock. We will look for the resolution and a clear break above or below the zero line to help determine price’s next move. If the oscillator regains positive territory then we will know that momentum is resurgent in the direction of the “Go” trend and we will expect an attack on a new higher high.
