7 Dow Stocks Beat Earnings Estimates But Shares Slide Anyway

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:

American Express beat analyst earnings-per-share estimates by 11 cents earning $1.48 per share after the closing bell on Thursday. AmEx closed the day just above its 50-day simple moving average of $80.67, but gapped lower Friday to a new 2015 low of $76.53. The weekly chart is negative but oversold with its five-week modified moving average of $80.17 with its 200-week simple moving average a major support at $70.27.

General Electric beat analyst earnings-per-share estimates by a penny earning 31 cents a share before the opening bell on Friday. GE traded as high as $28.68 on April 10 and Friday’s reaction low was $27.21 with the stock above its 50-day and 200-day simple moving averages converged at $25.53 and $25.56, respectively. GE's weekly chart for this “Dog of the Dow” is positive with its five-week modified moving average of $26.10.

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.

Intel beat analyst earnings-per-share estimates by a penny earning 41 cents a share after the closing bell on Tuesday. The stock popped to $32.99 the next day but on Friday is poised for a potential close below its 50-day simple moving average of $32.42. If Intel closes Friday above its five-week modified moving average of $32.38 the weekly chart will shift to positive. This will be a close call.

Johnson & Johnson beat analyst earnings-per-share estimates by two cents earning $1.54 a share before the opening bell on Tuesday. The stock failed to hold its 50-day simple moving average of $100.70 and traded as low as $99.11 on Friday. The weekly chart is neutral with the stock below its five-week modified moving average of $100.80 with the stochastic reading rising slightly to 40.90 from 38.58 last week.

JPMorgan Chase beat analyst earnings-per-share estimates by 7 cents earning $1.45 a share before the opening bell on Tuesday. The stock set a new all-time intraday high of $64.48 then faded on Friday to as low as $62.94. JP Morgan is above its 50-day and 200-day simple moving averages of $60.72 and $59.45, respectively. The weekly chart is positive with its five-week modified moving average of $60.98.

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.