This Will Give More Ammunition To 3M Company (MMM), Accenture plc (ACN)

3M Company (MMM) rose 5.35% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -19.76% and is now up by 1.61% since start of this year. A look at its monthly performance shows that the stock has recorded a -2.38% fall over the past 30 days. Its equity price dipped by -7.99% over the past three months which led to its overall six-month decrease to stand at -2.06%.

Experts from research firms are bullish about the near-term performance of 3M Company with most of them predicting a $203.94 price target on a short-term (12 months) basis. The average price target by the analysts will see a 5.34% rise in the stock and would lead to MMM’s market cap to surge to $119.43B. The stock has been rated an average 0, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 19 analysts that track 3M Company (NYSE:MMM) and find out that 8 of them rated it as a Hold. 7 of the 11 analysts rated it as a Buy or a Strong Buy while 4 advised investors to desist from buying the stock or sell it if they already possess it.

A look at MMM technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 50.38 point. Its trading volume has lost -823442 shares compared to readings over the past three months as it recently exchanged 1936558 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 2760000 shares, and this is 0.7 times the normal volume.

The price of Accenture plc (NYSE:ACN) currently stands at $147.02 after it went up by $1.15 or 0.79% and has found a strong support at $145.15 a share. If the ACN price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $143.28 mark would also be bad for the stock as it means that the stock would plunge by 2.54% from its current position. However, if the stock price is able to trade above the resistance point around $148.01, then it could likely surge higher to try and break the upward resistance which stands at $149 a share. Its average daily volatility over the past one month stands at 2.79%. The stock has plunged by 69.89% from its 52-weeks high of $44.2701 which it reached on Sep. 21, 2018. In general, it is 9.79% above its 52-weeks lowest point which stands at $132.63 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Accenture plc (ACN) for 1 year and it stands at an average $169.62/share. This means that it would likely increase by 15.37% from its current position. The current price of the stock has been moving between $144.2701 and $147.13. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $130. On the other hand, one analyst is super bullish about the price, setting a target as high as $205.

Analysts view Accenture plc (NYSE:ACN) as a Buy, with 0 consensus rating. Reuters surveyed 27 analysts that follow ACN and found that 8 of those analysts rated the stock as a Hold. The remaining 19 were divided, with 17 analyst rating it as a Buy or a Strong Buy while 2 analysts advised investors to desist from buying Accenture plc (ACN) shares or sell it if they already own it.