Below is an updated look at our Dow 30 trading range screen. For each Dow member, the dot represents where it’s currently trading, while the tail end represents where it was trading one week ago. The black vertical “N” line represents each stock’s 50-day moving average, and moves into the red or green zones are considered “overbought” or “oversold.”
As shown, a majority of Dow stocks remain in overbought territory, but most of them have also gotten less overbought over the last week. You can see this because the dot is to the left of the tail for many stocks. Johnson & Johnson (JNJ) is the only stock that remains in extreme overbought territory, which means it’s trading more than two standard deviations above its 50-day moving average. American Express (AXP), IBM, and United Tech (UTX) are three stocks that have moved from overbought down to neutral territory over the last week.
A few Dow stocks are struggling below their 50-day moving averages. Caterpillar (CAT) and Chevron (CVX) stand out the most after experiencing big moves lower from neutral into oversold territory over the last week.
In terms of year-to-date performance, Apple (AAPL) is back on top again with a 2017 gain of 20% already. Boeing (BA) and Visa (V) are two additional big winners. On the downside, Exxon Mobil (XOM) is leading the way lower with a YTD decline of 9.9%. Verizon (VZ) is down the second most of any Dow stock at -7.54%, followed by Chevron (CVX) and General Electric (GE).
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