3M company (MMM) Elliott Wave forecast: A new bullish cycle begins
After completing a major Wave IV correction, 3M (MMM) is poised for a strong bullish trend as Wave V unfolds. Learn what’s next for the stock.
3M Company (MMM) has experienced a significant corrective phase after completing a major bullish cycle. The long-term Elliott Wave structure suggests that the stock has finished a multi-year Wave IV correction and is now in the early stages of a new bullish cycle within Wave V. This setup indicates the potential for substantial upside over the coming years.
Wave IV completion and the start of wave V
MMM previously completed an extended five-wave impulse sequence, peaking at Wave III. Following this, the stock entered a prolonged corrective phase, labeled as Wave IV. The decline unfolded in a complex corrective pattern, with subwaves ((A))-((B))-((C)) shaping the retracement. This correction has now likely reached completion, setting the stage for a new long-term rally.
The early stages of wave V
After bottoming in Wave IV, MMM has started to build a new impulse structure. The initial advance suggests that Wave ((1)) of the larger Wave V is in progress. In the near term, we may see a minor pullback in Wave ((2)) before the next leg higher resumes. Once Wave ((2)) completes, MMM could accelerate in Wave ((3)), bringing strong bullish momentum.
The “Right Side” tag confirms that the primary trend remains bullish. As a result, we do not recommend selling, even if short-term pullbacks occur. Instead, these retracements could provide strategic opportunities to enter long positions before the next wave of growth unfolds.
Author
Elliott Wave Forecast Team
ElliottWave-Forecast.com
