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DD, VZ best Dow component in April

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breath1 April 30, 2013 (Chinavestor) Du Pont (NYSE:DD) remains the most overbought component of the Dow this morning. The stock is trading closer to theoretical highs than the Dow Jones Industrial Average (INDEXDJX:.DJI) itself. While DD is not extremely overbought, downside risk is certainly on the rise.

Verizon Communications (NYSE:VZ) is trading well above its trading envelope as well. The stock is just two dollars away from theoretical highs, limiting its upside potential.

Microsoft (NASDAQ:MSFT) and Intel Corp. (NASDAQ:INTC) stepped way above their trading envelope limits but are far from theoretical highs. More upside is possible according to technical indicators.

OB_20130430

IBM (NYSE:IBM) is the dog of the Dow today. The stock is back under $200 and is trading below its trading envelope.

General Electric (NYSE:GE) is the other Dow component that is below its trading envelope. Ge has been trading in a narrow range with no indication where to go next. Visit the following chart to see the most oversold components of the Dow Jones Industrial Average (INDEXDJX:.DJI).

OS_20130430

verbought A technical condition that occurs when prices are considered too high and susceptible to a decline. Overbought conditions can be classified by analyzing the chart pattern or with indicators such as the one above. A sharp advance from $15 to $30 in 2 weeks might lead a technician to believe that a security is overbought. Or, a security is sometimes considered overbought when the stock is trading out of its trading envelope and is approaching the theoretical high. It is important to keep in mind that overbought is not necessarily the same as being bearish. It merely infers that the stock has risen too far too fast and might be due for a pullback.

Oversold A technical condition that occurs when prices are considered too low and ripe for a rally. Oversold conditions can be classified by analyzing the chart pattern or with indicators such as the one above. A sharp decline from $30 to $15 in 2 weeks might lead a technician to believe that a security is oversold. Or, a security is sometimes considered oversold when the stock is trading below its trading envelope and is approaching theoretical lows. It is important to keep in mind that oversold is not necessarily the same as being bullish. It merely infers that the security has fallen too far too fast and may be due for a reaction rally.

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