Below is an updated look at our trading range screen for the 30 stocks in the Dow Jones Industrial Average. This screen allows you to quickly see where a large number of stocks are currently trading within their normal ranges. The dot represents where the stock is 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 zone are considered overbought or oversold.
At the moment, 14 of the 30 Dow stocks are in overbought territory, with stocks like Chevron (CVX), Goldman Sachs (GS), and JP Morgan (JPM) trading at the most overbought levels. It should be noted, though, that no stocks are trading well into extreme overbought territory any longer, whereas a week or two ago, a boatload of names were at extremes. Most stocks in the index have moved slightly lower within their ranges over the last week. IBM, Merck (MRK), McDonald’s (MCD), and Microsoft (MSFT) are some of the names that have seen the biggest moves lower.
There are currently just six stocks in oversold territory — Cisco (CSCO), Johnson & Johnson (JNJ), Coca-Cola (KO), Merck (MRK), Procter & Gamble (PG), and Visa (V). Of these names, Visa is the most oversold.
For each stock, we also include its current dividend yield and year-to-date percentage change. This provides some additional context for the 30 index members. As shown, Caterpillar (CAT) is currently up the most year-to-date with a gain of just under 40%. UnitedHealth (UNH) ranks second at +34%, followed by Goldman Sachs (GS), JP Morgan (JPM), and Chevron (CVX). Only six stocks in the index are down year-to-date, and Nike (NKE) is down by far the most at -19%. Coca-Cola (KO) is down the second most at -5.74%, while Disney (DIS) ranks third worst at -4.63%.
Bespoke Premium and Bespoke Institutional members see a number of our trading range screens on a regular basis. Become a member today!