The share price of 3M $MMM peaked in 2018 at $260 and fell almost all the way to $190 before finding support and stabilizing. On the daily chart, we will see that price stabilized above $190-$192 area and below $209 for a few months before a bullish breakout in late July. MMM Daily Chart (click to enlarge) Price Bottom:- Because price broke above the consolidation range, we can anticipate a bullish period ahead. - However, we can see that after price broke out to almost $213 it fell again.- If you have followed my analysis, you know that when a breakout pulls back like this, I always monitor the middle of the broken range, which was around $200. - And what did we see here? Price did break below briefly, but the price action here was bullish, including a bullish engulfing candle. - Furthermore, the RSI held above 40, which reflects maintenance of the prevailing bullish momentum, albeit a weak one because the RSI wasn't able to push above 70 (but it was close).- Another price action I like for the bullish scenario is that price action last week ended up holding above the 100-, and 50-day simple moving averages (SMAs).Upside:- For now, the bullish signals can only be used to assess the short-term outlook because the prevailing outlook in the medium-term is still bearish.- I would limit the upside for now to the 200-day SMA, which is around the $220 level. This was also a support/resistance pivot.- If the RSI is above 70 while price reaches this level, we should anticipate some selling. - Then, if price can hold above the range, holding above $208-$210 for example, we can look for further upside.