Disclosure: I have no positions in American Express, General Electric, Goldman Sachs, Intel, Johnson & Johnson, JPMorgan Chase or UnitedHealth.
The Dow Jones Industrial Averageset an all-time intraday high of 18,288.63 on March 2, and if this key index ends the week below its five-week modified moving average of 17,882 the weekly chart profile is at risk of ending April negative, it the 12x3x3 weekly slow stochastic reading begins to decline from this week’s reading of 68.27.
Remember that a negative weekly chart occurs when a market or stock closes a week below its five-week modified moving average with the stochastic reading declining below the overbought threshold of 80.00 on a scale of 00.00 to 100.00.
Here are the seven Dow stocks that reported quarterly results this week and how they are trading:
Goldman Sachs (GS) beat analyst earnings-per-share estimates by $1.80 earning $5.94 a share before the opening bell on Thursday. The stock set a new all-time intraday high of $202.87 then faded on Friday to as low as $196.30. Goldman is above its 50-day and 200-day simple moving averages of $190.46 and $183.96, respectively. Its weekly chart is positive but overbought with its five-week modified moving average of $191.76.
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UnitedHealth (UNH) beat analyst earnings-per-share estimates by 12 cents earning $1.46 a share before the opening bell on Thursday. The stock stayed shy of its all-time intraday high of $123.76 set on March 30. The positive reaction resulted in a trade as high as $122.32 then faded to $118.90 on Friday with the stock above its 50-day simple moving averages of $115.23. UnitedHealth's weekly chart is neutral with the stock above its five-week modified moving average of $115.93. The stochastic reading is declining at 79.68 from 82.35 last week.