Dow Remains Shy Of High But These Four Stocks Are Winners

The Dow Jones Industrial Average ended last week on June 19 with a close of 18,015.95, just below its 50-day simple moving average of 18,038.24 which still indicates risk to its 200-day simple moving average of 17,651.40. At the post-FOMC high on June 18, the Dow 30 stalled at 18,174.73, shy off its all-time intraday high of 18,351.36 set on May 19.

The weekly chart for the Dow 30 shifted to neutral from negative with the index just above its five-week modified moving average of 18,002.03. The Dow ended the week with its 12x3x3 weekly slow stochastic reading declining to 56.92 from 63.28 on June 12. The Dow is up just 1.1% year-to-date and is 1.8% below its all-time high.

Four stocks in the Dow set all-time intraday highs last week, not enough bullish stock-specific strength to send the index to a new high. Nineteen of the 30 Dow components are below their 50-day simple moving averages.

Dow30June19

 

Here are the weekly charts for the four biggest winners Courtesy of MetaStock Xenith

DISWF

Disney (DIS) closed at $112.62 on June 19 for a gain of 2.4% last week. The stock has a gain of 19.6% year-to-date and set its all-time intraday high of $113.55 on June 18. The stock is above its 50-day and 200-day simple moving averages of $109.69 and $98.74, respectively.

Disney’s weekly chart is positive with the stock above its five-week modified moving average of $109.97 with a 12x3x3 weekly slow stochastic reading of 72.75 up from 72.29 on June 12.

My semiannual value level is $96.11 with monthly and quarterly pivots of $112.63 and $112.72, respectively, and a weekly risky level of $113.60.

GSF

Goldman Sachs (GS) closed at $213.19 on June 19 for a gain of 0.1% last week. The stock has gained 10% year-to-date and set its all-time intraday high of $215.01 on June 18. The stock is above its 50-day and 200-day simple moving averages of $203.79 and $191.01, respectively.

Goldmann’s weekly chart is positive but overbought with the stock above its five-week modified moving average of $206.28 and with a 12x3x3 weekly slow stochastic reading of 92.48 up from 91.59 on June 12. These readings are well above the overbought threshold of 80.00.

Quarterly and monthly value levels are $202.04 and $201.14, respectively, with a weekly risky level of $213.66.

JPMF

JPMorgan Chase (JPM) +0.44% had a close of $68.08 on June 19 for a loss of 0.2% last week. The stock has a gain of 8.8% year-to-date and set its all-time intraday high of $68.82 on June 18. JPM is above its 50-day and 200-day simple moving averages of $65.37 and $61.21, respectively.

The weekly chart is positive but overbought with the stock above its five-week modified moving average of $66.05 and with a 12x3x3 weekly slow stochastic reading of 91.60 up from 90.26 on June 12. These readings are well above the overbought threshold of 80.00.

My monthly value level is $62.93 with weekly and quarterly risky levels of $69.10 and $69.27, respectively.

NKEWF

 

Nike (NKE) +4.27% closed at $106.53 on June 19 for a gain of 2.6% last week. The stock has a gain of 10.8% year-to-date and set its all-time intraday high of $106.85 on June 19. Nike’s stock is above its 50-day and 200-day simple moving averages of $102.07 and $95.54, respectively.

The weekly chart is positive with the stock above its five-week modified moving average of $102.99 and with a 12x3x3 weekly slow stochastic reading of 77.41 up from 76.17 on June 12.

My semiannual value level is $104.33 with monthly and weekly pivots of $106.42 and $106.97, respectively, and quarterly risky level of $108.19.

 

more

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.