Below is our trading range screen for the 30 Dow stocks. 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. Moves into the red and green zones are considered overbought or oversold. The black vertical “N” line represents each stock’s 50-day moving average.
To close out the first month of 2016, the average Dow 30 stock is down 5.28% year-to-date. Twenty-four Dow stocks are in the red, while just six are in the black. The top performing Dow stock so far this year has been Wal-Mart (WMT) with a gain of 8.25%, followed closely by Verizon (VZ) at +8.11%. JNJ, MCD, MMM and PG are the four other stocks that are up year-to-date.
American Express (AXP) has been the worst performer in the Dow so far this year with a decline of 23.08%. Du Pont (DD) ranks second worst at -20.78%.
As you can see in the screen, most Dow names were oversold a week ago, but many of them moved out of oversold territory this week. Five Dow stocks are actually overbought to close out the month — JNJ, MCD, PG, VZ and WMT.