Below is an updated look at our Dow 30 trading range screen. For each stock, the dot represents where it’s currently trading within its range, while the tail end represents where it was trading one week ago. The green and red shaded areas represent oversold and overbought territory.
While the major indices are currently trading slightly into overbought territory, most Dow stocks are neutral. Seven of thirty stocks in the index are overbought, five are oversold, and the remaining eighteen are neutral. Overbought names include American Express (AXP), Cisco (CSCO), Goldman (GS), Intel (INTC), JP Morgan (JPM), Procter & Gamble (PG), and Visa (V), while the five oversold names are Disney (DIS), Johnson & Johnson (JNJ), Pfizer (PFE), UnitedHealth (UNH), and Wal-Mart (WMT).
In this screen, you want to look for stocks with upside momentum picking up. Some standouts at the moment include Boeing (BA), Chevron (CVX), Coca-Cola (KO), McDonald’s (MCD), Verizon (VZ), and Wal-Mart (WMT). All of these names have moved higher within their range over the last week, but they aren’t trading at extreme overbought levels.
Updating year-to-date performance numbers, Caterpillar (CAT) remains the best performing Dow stock in 2016 with a gain of 23%. 3M (MMM), Merck (MRK), Wal-Mart (WMT), and IBM round out the top five. Prior market darling Disney (DIS) has been the worst performing Dow stock this year with a decline of 10%, while Boeing (BA), Nike (NKE), Goldman Sachs (GS), and American Express (AXP) are also solidly in the red.