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Stock of the Day – 3M Company (3M)

Close – $59.37

Strategy – Short

Profit booking – $48 – $50

Stop Loss – 66

MACD – 0.61

RSI – 50.54

The stock is facing strong resistance around in $60-$66 range. The charts are indicating weakness in the stock. One can short the stock in $60-$66 range and expect the stock to touch $50 levels in short to medium term.

Stock of the Day – Johnson & Johnson (JNJ)

Close – $56.09

Strategy – Short

Profit booking – $48 – $50

Stop Loss – $62

MACD – 0.34

RSI – 53.36

Headwinds are strong for the stock in $58-$62 range. One can expect the stock to witness selling pressure in that range. Short to medium term traders can short the stock keeping in mind $48-$50 levels for profit booking.

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