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 black vertical “N” line represents each stock’s 50-day moving average. Moves into the red zone are considered “overbought,” while moves into the green zone are considered “oversold.”
As of this writing, 24 Dow stocks are above their 50-day moving averages while just 6 are below. Of the 24 stocks above their 50-days, 23 are trading in “overbought” territory, meaning they’re extended more than one standard deviation above their 50-day. Cisco (CSCO) is the most overbought stock in the index, with JP Morgan (JPM), 3M (MMM), and Procter & Gamble (PG) on its heels.
Just three Dow stocks are oversold, and two of the three are blue-chip Energy companies — Chevron (CVX) and Exxon Mobil (XOM). Both of these stocks have struggled so far in 2017, with CVX down 6% YTD and XOM down 8.7%.
Don’t look now, but Apple (AAPL) is back on top again as the best performing stock in the Dow year-to-date.