Stock Indices: Dow Jones retreats for the first time in four sessions, The Travelers, Verizon weigh

On Thursday Dow Jones Industrial Average traded within the range of 17,963.89-18,106.37. The benchmark closed at 17,982.52, falling 0.63% (113.75 points) on a daily basis. It has been the 23rd drop in the past 57 trading days and also the sharpest one since April 7th. The daily low has been the lowest level since April 18th, when a low of 17,848.22 was registered. The blue-chip gauge has trimmed its advance to 1.70% so far in April.

Among the companies included in the benchmark, 22 registered a decline and 8 recorded gains on Wednesday. The shares of The Travelers Companies Inc (TRV) recorded the worst performance within the Dow on April 21st, going down 6.05% to close at $108.79. It has been the 11th drop in the past 22 trading days, a second consecutive one and also the sharpest one in at least 3 years. April 21st low of $108.37 per share has been the lowest price level since March 1st, when a low of $108.04 a share was registered. In addition, the daily trading volume (5.07M) has been the highest since March 18th. The TRV has slid 6.79% so far during the current month, following two consecutive months of advance. The insurer reported a 17% drop in Q1 profits, due to severe weather conditions in Texas during the period.

Verizon Communications Inc (VZ) was the second worst performer within the DJIA on April 21st, falling 3.32% to close at $50.03 per share. It has been the 13th drop in the past 22 trading days, a second consecutive one and also the steepest one since December 9th 2014, when the stock went down 4.05%. April 21st low of $49.47 has been the lowest price level since February 12th, when a low of $49.35 a share was registered. In addition, the daily trading volume (32.17M) has been the highest since January 27th. Verizon shares have lost 7.49% of their value so far in April, following four consecutive months of advance.

At the same time, the shares of International Business Machines (IBM) recorded the most notable daily increase within the DJIA on April 21st, going up 2.18%, to close at $149.30, while marking their 13th gain in the past 22 trading days, a second consecutive one and also the sharpest one since March 1st, when the stock rose 2.55%. April 21st high of $150.10 per share has been the highest level since April 18th, when IBM went up as high as $153.14. The tech giant has lost 1.42% of its market value so far during the current month, following a 15.58% surge in March.

American Express Company (AXP) was the second best performer within the Dow on Thursday, rising 0.91%, to close at $65.61. It has been the 12th gain in the past 22 trading days and also a fourth consecutive one. April 21st high of $67.33 per share has been the highest level since January 5th, when the stock went up as high as $67.71. In addition, the daily trading volume (9.47M) has been the highest since March 8th. American Express shares have added 6.86% to their value so far in April, following two consecutive months of advance.

Daily and Weekly Pivot Levels

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

R1 – 17,998.14
R2 – 18,011.20
R3 (range resistance) – 18,024.26
R4 (range breakout) – 18,063.44

S1 – 17,972.02
S2 – 17,958.96
S3 (range support) – 17,945.90
S4 (range breakout) – 17,906.72

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