MMM Trade Idea (short)

Be aware MMM reports April 26 according to Yahoo.

This is not meant to be a short term or swing trade, but a longer position trade and risk management should reflect that with an appropriate stop that gives the trade some room.

 Here's my Stoch/RSI screen with MoneyStream overlaid on price. There are negative divergences in MS and a top signal in Stoch/RSI. Note the false breakout in the red square in the price pane.

 60 min 3C negative divergences at the top as well as at the false upside breakout just mentioned in the red box.

 15 min negative divergence as well as at the false upside breakout.

 The 5 min chart currently looks a bit weak here as well with a negative divergence.

Here are two potential stops, I prefer the wider stop in this environment.

Any time you have questions on trade ideas, feel free to email me.