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One top technician says this Dow laggard could be ready to break out

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If you missed out on the stock market's killer quarter, one top technician points to a great spot for a catch-up trade. Could an industrial heavyweight be ready to break out?

Stocks started the quarter off on a high note Monday as the Dow and S&P rallied around 1 percent. This follows a stellar quarter for the major indices where the S&P 500 saw its best stretch since 2009 and the Dow saw its best quarterly performance since 2013.

Shares of the industrial giant are up 10 percent this year, lower than the Dow's 12 percent gain and the industrials sector's 18 percent gain. As evidence, Worth points to a long-term chart that shows 3M's remarkable resilience after hitting a low.

 

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