Stock Indices: Dow Jones rises to fresh 2.5-month highs, supported by Boeing, Nike and McDonald’s

On Monday Dow Jones Industrial Average traded within the range of 17,161.16-17,275.07. The benchmark closed at 17,229.13, inching up 0.09% (15.82 points) on a daily basis. It has been the 16th gain in the past 30 trading days and also a second consecutive one. The daily high has been the highest level since January 4th, when the Dow went up as high as 17,405.48. The blue-chip gauge has extended its advance to 4.31% so far during the current month, after going up 0.30% in February.

Among the companies included in the benchmark, 15 posted a daily decline on Monday and 15 posted a daily gain. Shares of Pfizer Inc (PFE) recorded the worst performance within the Dow on Monday, going down 1.31% to close at $30.10. It has been the 12th drop in the past 20 trading days and also the steepest one since March 8th. Pfizer shares have added 1.45% to their value so far in March, following four consecutive months of decline.

Intel Corporation (INTC) was the second worst performer within the DJIA on March 14th, going down 1.04%, to close at $31.43. It has been the 6th drop in the past 21 trading days. March 14th low of $31.30 per share has been the lowest price level since March 10th, when a low of $30.38 was registered. The tech giant has advanced 6.22% so far during the current month, following three consecutive months of decline.

At the same time, the shares of Boeing Company (BA) registered the most notable daily increase within the DJIA on March 14th, going up 1.37%, to close at $126.34, while marking their 14th gain in the past 20 trading days and also a fourth consecutive one. March 14th high of $127.00 per share has been the highest price level since January 26th, when a high of $128.15 per share was reached. In addition, the daily volume (4.28M) has been the highest since March 8th. The aircraft manufacturer has added 6.90% to its value so far in March, following four consecutive months of decline.

Nike Inc (NKE) was the second best performer within the Dow on March 14th, appreciating 1.22%, to close at $60.81 per share. It has been the 14th gain in the past 20 trading days and also a third consecutive one. March 14th high of $61.33 per share has been the highest price level since March 4th, when Nike shares recorded a high of $61.54. The athletic apparel producer, on the other hand, has lost 1.27% of its value so far in March, following three straight months of decline.

McDonald`s Corporation (MCD) was the third best performer yesterday, climbing 1.11% on the day, to close at $122.90 per share. It has been the 12th gain in the past 20 trading sessions and also a fifth successive one. March 14th high of $123.49 per share has been the highest level since February 3rd, when McDonalds registered a high of $124.58 per share. Additionally, the daily volume (7.91M) has been the highest since March 3rd. The franchiser has gained 4.87% so far in March, following a 5.32% slump in February.

Today stock traders will be paying attention to the US macroeconomic data string, as the FOMC initiates its two-day policy meeting.

Daily and Weekly Pivot Levels

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

R1 – 17,239.57
R2 – 17,250.01
R3 (range resistance) – 17,260.46
R4 (range breakout) – 17,291.78

S1 – 17,218.69
S2 – 17,208.25
S3 (range support) – 17,197.80
S4 (range breakout) – 17,166.48

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

Central Pivot Point – 17,085.09
R1 – 17,348.31
R2 – 17,483.32
R3 – 17,746.54

S1 – 16,950.08
S2 – 16,686.86
S3 – 16,551.85