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, and moves into the red or green zones are considered overbought or oversold.
Exactly half of the stocks in the Dow are trading in overbought territory, while just two are oversold — Apple (AAPL) and Microsoft (MSFT). Apple is the most oversold stock in the index at more than two standard deviations below its 50-day moving average. Last week at this time, Apple was above its 50-day, so it’s been a rough few days for the largest company in the world.
Through today, Apple (AAPL) has been the second worst performing stock in the Dow year-to-date with a decline of 11.04%. Only Intel (INTC) has done worse in 2016 with a decline of 11.15%. Other notable losers this year include Boeing (BA), Goldman Sachs (GS), Nike (NKE), and American Express (AXP).
On the positive side, you may be surprised to see Chevron (CVX) at the top of the list of best performers in the Dow YTD. The stock is now up 14.84% in 2016, which is 9 basis points better than the second best performer in the index — 3M (MMM). Caterpillar (CAT) — another stock that has been beaten down over the last few years — ranks third with a year-to-date gain of 14.54%.
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