Stock Indices: Dow Jones edges up a second straight day in light trade

On Monday Dow Jones Industrial Average traded within the range of 17,493.65-17,583.40. The benchmark closed at 17,535.25, edging up 0.11% (19.52 points) on a daily basis. It has been the 23rd gain in the past 39 trading days and also a second consecutive one. The daily high has been the highest level since March 23rd, when the Dow went up as high as 17,588.81. The blue-chip gauge has increased its advance to 6.17% so far during the current month, after going up 0.30% in February.

Among the companies included in the benchmark, 16 posted a daily decline on Monday and 14 posted a daily gain. Shares of Microsoft Corporation (MSFT) recorded the worst performance within the Dow on March 28th, going down 1.24% to close at $53.54. It has been the 8th drop in the past 20 trading days and also the steepest one since March 18th. March 28th low of $53.28 per share has been the lowest price level since March 21st, when a low of $52.93 was recorded. Microsoft shares have trimmed their advance to 5.23% so far in March, following two consecutive months of decline. According to weekend reports in the media the technological giant held a discussion with private equity companies over the financing terms related to the probable purchase of Yahoo! Inc.

Pfizer Inc (PFE) was the second worst performer within the DJIA yesterday, depreciating 1.00% to close at $29.78 per share. It has been the 12th drop in the past 20 trading days, a third consecutive one and also the sharpest one since March 16th. March 28th low of $29.74 per share has been the lowest price level since March 21st, when a low of $29.44 was recorded. Pfizer has cut its advance to 0.37% so far in March, following four successive months of decline.

At the same time, the shares of General Electric Company (GE) registered the most notable daily increase within the DJIA on March 28th, going up 1.22%, to close at $31.49, while marking their 11th gain in the past 20 trading days, a third consecutive one and also the steepest one since March 17th. March 28th high of $31.70 per share has been the highest price level since May 21st 2008, when a high of $31.78 a share was registered. GE has added 8.06% to its value so far in March, following a 0.14% gain in the previous month. It became clear that Citigroup analysts submitted positive reviews in regard to GEs power business during a South Carolina facility visitation.

3M Company (MMM) was the second best performer within the Dow on Monday, appreciating 1.11%, to close at $166.28. It has been the 11th gain in the past 20 trading days, a second consecutive one and also the sharpest one since March 11th. March 28th high of $166.64 per share has been the highest price level since April 16th 2015, when a high of $166.65 was recorded. 3M has added 6.00% to its value so far during the current month, following two consecutive months of increase. In February the stock went up 3.89%.

Daily and Weekly Pivot Levels

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

R1 – 17,543.48
R2 – 17,551.70
R3 (range resistance) – 17,559.93
R4 (range breakout) – 17,584.61

S1 – 17,527.02
S2 – 17,518.80
S3 (range support) – 17,510.57
S4 (range breakout) – 17,485.89

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

Central Pivot Point – 17,521.23
R1 – 17,643.44
R2 – 17,771.16
R3 – 17,893.37

S1 – 17,393.51
S2 – 17,271.30
S3 – 17,143.58