3M (MMM) shares have continued higher and higher, despite my recent concerns earlier this month: "While it might be unpopular to suggest that a member of the Dow Jones Industrial Average (DJIA) could pull back with the markets at record highs, I think it would be prudent to suggest taking some money off the table looking to rebuy MMM at lower levels."
As Jim Cramer put it this morning "3M Gives You Everything You Could Want From a Company."
With MMM at new highs let's check the charts again.
In this daily bar chart of MMM, below, we can see the new highs. Prices are above the rising 50-day moving average line after a test of that line at the beginning of the year. MMM is well above the rising 200-day moving average, maybe extended above that indicator. The daily On-Balance-Volume (OBV) has been steady the past three months but is close to making a new high. A new high from the OBV line would help confirm the strength of the advance. The Moving Average Convergence Divergence (MACD) oscillator turned bullish again in early January and is still pointed up.
In this weekly bar chart of MMM, below, we can see the new highs this week. Prices are above the rising 40-week moving average line. The weekly OBV line just made a slight new high to confirm this uptrend. The weekly MACD oscillator has been in a bullish mode for most of the past two years.
In this weekly Point and Figure chart of MMM, below, we can see the relentless uptrend in price. A $295.62 price target is being projected.

Bottom line -- 3M or M-squared is pointed higher. The $295-$300 area is the next logical price target. Sell stops should be below $230.