Below is an updated look at our trading range screen for the 30 stocks that make up the Dow Jones Industrial Average. Ā (Please view the description below the screen to learn how we calculate overbought and oversold levels.)
As shown, a whopping 23 of the 30 Dow stocks are now in oversold territory. Ā The most oversold stocks in the index are Chevron (CVX), Disney (DIS), United Health (UNH), Microsoft (MSFT), Procter & Gamble (PG), Wal-Mart (WMT) and Exxon Mobil (WMT). Ā Only three Dow stocks are above their 50-day moving averages -- Boeing (BA), Bank of America (BAC) and Home Depot (HD). Ā Home Depot is actually in overbought territory after doing well yesterday.
With the Dow now up less than 4% year to date, more and more of the names in the index are moving into the red for the year. Ā There are now 10 Dow stocks that are down year to date, with Hewlett Packard (HPQ) down by far the most at -48.63%. Ā Intel (INTC) is down the second most at -16.45%, while McDonald's (MCD) has the third biggest declines at -15.02%. Ā On the bright side, Bank of America (BAC) is still up 66% year to date, but at just $9.24/share, it has the second lowest weighting in the Dow behind Alcoa (AA).
Interested in running your portfolio through our trading range screens on a regular basis? Ā Call us at 914-315-1248.
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