Analysis of 3M shares (MMM)

Shares of 3M  Company (MMM) Ascending Triangle Pattern 

Shares 3M (MMM) are forming a pattern Ascending Triangle, Where on clear image above Ascending Triangle pattern process. Here are expected penetration resistance at $ 79.3 in the near future, and if that happens then the price likely to rise following the reliability of the pattern. Prices had soared and there mid july month gap in 2009 is called the Run away gap. Price target to be achieved in the near future is likely around $ 85.71 is ideal.
A little summary of the Ascending Triangle following patterns, form patterns can be seen in the image above, top line (resistance) is horizontal, the bottom line (Trendline) an increasing, flanking movement of the price fluctuations due to shrinking. These formations form peaks (1.3 and 5) the same height, but the valleys (2,4, and 6) a higher and higher, indicating that the bulls are more aggressive and control the fight. Although only requires a minimum of four additional reversal points (5 and 6) before the break out bullish. The closing price above the resistance line is needed as a validation of this pattern and as well as the entrance to buy the stock. Then the target can be determined based on the vertical projection of the high range "Point 2 to the line Resistane" to the breakout point (as shown in Figure)

Volume
In broad outline will be thinned out as the formation of the formation took place, followed at the breakout spike, but to strengthen the bullish signal, traders can consider the volume that accompanied the fluctuating price movements in this formation, which should increase when prices go up and thinned down prices. .