3M Company technical comments before results The shares have a potential bearish head and shoulders top in development. The neckline for the pattern remains at considerable distance from current price at the $155 area. It would take more bearish news than current expectations would suggest to reach the neckline. Downside potential for the pattern, if it triggers, would be to the $142 area over time. It should be noted that on a long-term chart the price action of recent years has resulted in a near-vertical rise that appears unsustainable. If the news is more bullish than expected, resistance levels to watch as potential upside objectives would be at $165.99 and then at $168.16, the 52-week high and lifetime high. On a breakout above $168.16, a run to $170 to $175 may be possible.