Stock Indices: Dow Jones on highs unseen since late July 2015 as oil regains ground, Walt Disney supports

On Monday Dow Jones Industrial Average traded within the range of 17,848.22-18,009.12. The benchmark closed at 18,004.16, going up 0.60% (106.70 points) on a daily basis. It has been the 32nd gain in the past 54 trading days. The daily high has been the highest level since July 21st 2015, when a high of 18,096.67 was registered. The blue-chip gauge has increased its advance to 1.79% so far in April, after going up 7.08% in the preceding month.

Equities received a strong support, as crude oil futures managed to recover from earlier losses on Monday, breaking a three-day string of declines. April 18th marked the 45th gain in oil prices out of the past 86 trading days. Oil futures for June delivery went up as high as $41.63 per barrel on April 18th and closed at $41.47, advancing 2.85% from Friday’s close. As of 9:40 GMT today the commodity was gaining 0.63% to trade at $41.73 per barrel.

Among the companies included in the benchmark, 3 registered a decline and 27 recorded gains on Monday. The shares of Apple Inc (AAPL) recorded the worst performance within the Dow for a second straight session on April 18th, going down 2.16% to close at $107.48. It has been the 9th drop in the past 21 trading days and also a second consecutive one. April 18th low of $106.94 per share has been the lowest price level since March 29th, when a low of $104.88 a share was registered. In addition, the daily trading volume (60.82M) has been the highest since January 29th. Apple shares have neutralized their advance, while currently being down 1.39% during the current month, following a 12.72% surge in March.

EI du Pont de Nemours and Company (DD) was the second worst performer within the DJIA on April 18th, falling 0.87% to close at $64.70 per share. It has been the 9th drop in the past 20 trading days. April 18th low of $64.52 per share has been the lowest price level since April 13th, when a low of $64.36 was recorded. DuPont shares have cut their advance to 2.18% so far in April, following a 4.02% increase in March.

At the same time, the shares of Walt Disney Company (DIS) recorded the most notable daily increase within the DJIA on April 18th, going up 2.93%, to close at $101.48, while marking their 10th gain in the past 20 trading days. April 18th high of $101.96 per share has been the highest level since January 5th, when the stock went up as high as $102.67. In addition, the daily trading volume (10.67M) has been the highest since April 5th. Walt Disney shares have advanced 2.19% so far during the current month, following a 3.97% surge in March. The stocks rating has been raised from Hold to Buy by Pivotal on the back of heightened expectations regarding the Shanghai Disney opening in the summer.

Visa Inc (V) was the second best performer within the Dow on Monday, advancing 1.71%, to close at $81.45. It has been the 12th gain in the past 20 trading days and also the sharpest one since March 30th, when the stock went up 1.86%. April 18th high of $81.55 per share has been an all-time high. Visa shares have added 6.50% to their value so far in April, following a 5.65% advance in the prior month.

Daily and Weekly Pivot Levels

By employing the Camarilla calculation method, the Tuesday pivot levels for DJIA are presented as follows:

R1 – 18,018.91
R2 – 18,033.66
R3 (range resistance) – 18,048.41
R4 (range breakout) – 18,092.66

S1 – 17,989.41
S2 – 17,974.66
S3 (range support) – 17,959.91
S4 (range breakout) – 17,915.67

By using the traditional method of calculation, the weekly pivot levels for DJIA are presented as follows:

Central Pivot Point – 17,804.39
R1 – 18,055.21
R2 – 18,212.96
R3 – 18,463.78

S1 – 17,646.64
S2 – 17,395.82
S3 – 17,238.07