Stock Indices: Dow Jones climbs to new 2-month highs led by Exxon Mobil, Procter&Gamble

On Wednesday Dow Jones Industrial Average traded within the range of 16,767.99-16,899.73. The benchmark closed at 16,898.56, edging up 0.20% (33.48 points) on a daily basis. It has been the 10th gain in the past 22 trading days and also a second consecutive one. The daily high has been the highest level since January 6th, when the Dow went up as high as 17,154.83. The average has gained 2.31% so far during the current month.

Among the companies included in the benchmark, 13 posted a daily decline on Wednesday and 17 posted a daily gain. Shares of EI du Pont de Nemours and Company (DD) recorded the worst performance within the Dow on Wednesday, going down 1.26% to close at $62.15. It has been the 8th drop in the past 20 trading days and also the steepest one since February 23rd. March 2nd low of $61.16 per share has been the lowest price level since February 29th, when a low of $60.81 per share was registered, while the daily volume (7.65M) has been the highest since February 3rd. DuPont added 15.37% to its value in February to mark its best monthly performance since October 2015.

Nike Inc (NKE) was the second worst performer within the DJIA yesterday, going down 1.11% to close at $62.22. It has been the 7th drop in the past 20 trading days. March 2nd low of $61.50 per share has been the lowest price level since February 25th, when a low of $60.63 per share was registered, while the daily volume (8.47M) has been the highest since February 26th. Nike lost 0.68% in February to mark its third straight month of decline. On Monday the sports goods manufacturer released its new Kevlar shoe, which is expected to be worn by Oklahoma City Thunder star forward Kevin Durant at the NBA Playoffs.

At the same time, the shares of Exxon Mobil Corporation (XOM) registered the most notable daily increase within the DJIA on March 2nd, going up 1.75%, to close at $82.70, while marking their 14th gain in the past 20 trading days, a second consecutive one and also the sharpest one since February 12th. March 2nd high of $82.72 per share has been the highest price level since February 26th, when a high of $83.08 per share was reached. Exxon gained 2.95% in February, while marking its first increase in four months.

Procter & Gamble Company (PG) was the second best performer within the Dow on March 2nd, appreciating 1.63%, to close at $82.55. It has been the 11th gain in the past 20 trading days and also the most considerable one since February 8th, when the PG stock surged 1.75%. March 2nd high of $82.66 per share has been the highest level since February 22nd, when the Procter&Gamble shares went up as high as $82.67. Additionally, the daily trading volume (12.10M) has been the highest since February 11th. The consumer packaged goods provider lost 1.71% of its value in February to mark its first drop in three months.

International Business Machines (IBM) was the third best performer within the DJIA yesterday, surging 1.44%, to close at $136.30.

Daily and Weekly Pivot Levels

By employing the traditional calculation method, the Thursday pivot levels for DJIA are presented as follows:

Central Pivot Point – 16,855.43
R1 – 16,942.86
R2 – 16,987.17
R3 – 17,074.60

S1 – 16,811.12
S2 – 16,723.69
S3 – 16,679.38

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

Central Pivot Point – 16,533.94
R1 – 16,902.01
R2 – 17,164.06
R3 – 17,532.13

S1 – 16,271.89
S2 – 15,903.82
S3 – 15,641.77

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