9 May Dow Jones Technical Analysis: Top Stocks to focus

The Dow Jones Index traded on a flat note in wall street on Monday trading session and Apple Inc gave the Dow Jones little push as it touched 52 weeks high. Here, is the 9 May Dow Jones Technical Analysis for intraday trading and Top stocks to focus today.

09 May, AtoZForex – As you see in the chart below, the Dow Jones Industrial Average surged 0.03 percent to 21,012.28 on Monday trading session. The S&P 500 also traded flat but the NASDAQ index dropped 1.30 % to 67.03 points yesterday. The small company stocks fell yesterday and the Russell 500 Index lost 5 points to 1,391 points. Investors seem worried this weekend’s due to French presidential election and the latest talk from regional Fed presidents may have capped stocks’ upside momentum.

9 May Dow Jones Technical Analysis

The Dow Jones for intraday trading is on the buying side for today as the SMA 20 is below SMA50 line. Traders should wait for the early signals and buy when the Dow Jones breaks its first resistance level today. Yesterday, the Dow formed an inverted hammer pattern during the early trading hours which is a good signal for traders. Though some of the indicators are still showing the overbought levels but still I am on the buying side. The Dow Jones is in Stong buy for today and my target for Dow Jones is 21,070- 21,080 if it breaks its first resistance level today.

9 May Dow Jones Technical Analysis charts; SMA20, SMA50, MACD(12,26,9) and RSI (14) (click to zoom-in)

Dow Jones Pivot Points

Name S3 S2 S1 Pivot Points R1 R2 R3
Classic 20837.04 20871.02 20938.98 20972.96 21040.92 21074.9 21142.86
Fibonacci 20871.02 20909.96 20934.02 20972.96 21011.9 21035.96 21074.9
Camarilla 20978.91 20988.25 20997.6 20972.96 21016.28 21025.63 21034.97
Woodie’s 20854.02 20879.51 20955.96 20981.45 21057.9 21083.39 21159.84

Top Stock to Focus today

These are some of the highly recommended stocks which the traders should focus on for today – Gigamon Inc., Kemet Corp., PBF Energy Inc., Delek US Holdings Inc. and Apple Inc. 

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