Stock Indices: Dow Jones lower at Friday’s close, tests lows unseen since early April

On Friday Dow Jones Industrial Average traded within the range of 17,512.48-17,734.74. The benchmark closed at 17,535.32, plummeting 1.05% (185.18 points) on a daily basis. It has been the 31st drop in the past 73 trading days. The daily low has been the lowest level since April 7th, when a low of 17,484.23 was registered. In weekly terms, the Dow lost 1.16% of its value last week to mark its 9th drop in the past 19 weeks. The blue-chip gauge has fallen 1.34% so far during the current month, following three successive months of advance.

Among the companies included in the benchmark, 26 registered a drop and only 4 recorded gains on Friday. The stock of Wal-Mart Stores Inc (WMT) recorded the largest drop within the Dow on May 13th, going down 2.86% to close at $64.94. It has been the 10th drop in the past 20 trading days. May 13th low of $64.65 has been the lowest level since February 19th, when a low of $63.44 was registered. Wal-Mart shares have increased their loss to 2.89% so far in May, following a 2.37% drop in the preceding month. The latter has been the sharpest monthly decline since October 2015.

Caterpillar Inc (CAT) was the second worst performer within the DJIA last Friday, tumbling 2.27% to close at $70.07 per share. It has been the 13th drop in the past 20 trading days, a third consecutive one and also the sharpest one since May 9th, when the stock fell 3.52%. May 13th low of $70.06 has been the lowest price level since March 3rd, when a low of $69.39 a share was registered. In addition, the daily trading volume (6.42M) has been the highest since May 10th. The construction materials manufacturer has lost 9.84% of its market value so far in May, following three consecutive months of advance. In April the stock went up 1.54%.

At the same time, the shares of Pfizer Inc (PFE) recorded the most notable daily increase within the DJIA on May 13th, going up 0.54%, to close at $33.19, while marking their 12th gain in the past 20 trading days and also a second consecutive one. May 13th high of $33.45 has been an almost exact test of the high from May 11th. Pfizer has gained 1.47% so far in May, following a 10.36% surge in April. The latter has been the most considerable monthly advance in more than 3 years.

Intel Corporation (INTC) was the second best performer within the Dow on May 13th, going up 0.50%, to close at $29.91. It has been the 9th gain in the past 20 trading days. May 13th high of $30.20 has been a lower-high test of the high from May 12th. The tech giants stock has trimmed losses to 1.22% so far in May, following a 6.40% slump in April, or the largest since January.

In weekly terms, 11 shares registered a loss and 19 registered gains last week, with Microsoft being the best performer, while Wal-Mart showing the worst performance.

Daily and Weekly Pivot Levels

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

R1 – 17,555.69
R2 – 17,576.07
R3 (range resistance) – 17,596.44
R4 (range breakout) – 17,657.56

S1 – 17,514.95
S2 – 17,494.57
S3 (range support) – 17,474.20
S4 (range breakout) – 17,413.08

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

Central Pivot Point – 17,660.80
R1 – 17,809.13
R2 – 18,082.93
R3 – 18,231.26

S1 – 17,387.00
S2 – 17,238.67
S3 – 16,964.87