New Highs For Boeing, Coca Cola, McDonald’s, 3-M, Microsoft, United Health Fail To Drive The Dow 30

It’s been a while since the Dow Jones Industrial Average set its all-time intraday high, which was set at 21,169.11 on March 1. This week’s “Dow Drivers” are Boeing (BA), Coca Cola (KO), 3-M Company (MMM), Microsoft (MSFT), United Health (UNH).

It’s been a while since the Dow Jones Industrial Average set its all-time intraday high, which was set at 21,169.11 on March 1. Over the last two weeks there have been stocks that can be considered “Dow Drivers”. Two weeks ago, it was Apple (AAPL), Home Depot (HD), McDonald’s (MCD) and Wal-Mart (WMT). Among these only McDonald’s set a fresh new high.
This week’s “Dow Drivers” are Boeing (BA), Coca Cola (KO), 3-M Company (MMM), Microsoft (MSFT), United Health (UNH). Each of these stocks set new all-time intraday, or post-election highs on Friday. Even so, the Dow 30 remains 0.4% below its all-time high.
The weekly chart for the Dow 30 ended last week statistically positive with the average above its five-week modified moving average of 20,824.45. The 12x3x3 weekly slow stochastic reading inched higher to 69.79 last week, up from 68.86 on May 19. The Dow 30 ended last week at 21,080.28, up 6.7% year to date. My quarterly value level is 19,189, with semiannual and weekly pivots at 20,893 and 20,996. Sell strength to my monthly, annual and semiannual risky levels of 21,279, 22,042 and 22,148, respectively. My annual value level is 15,111.


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Boeing (BA) closed May 26 at $186.59, up 19.9% year to date. The stock set its all-time intraday high of $187.60 on May 26. The stock is in bull market territory 32.1% above its Nov. 8 post-election low of $141.29.


Courtesy of MetaStock Xenith
The weekly chart for Boeing is neutral with the stock above its five-week modified moving average of $181.51. The stock is well above its 200-week simple moving average of $137.72, which is the “reversion to the mean”. The 12x3x3 weekly slow stochastic reading ended last week at 77.14 down from 79.79 on May 19, falling below the overbought threshold of 80.00. Buy weakness to my annual pivot of $177.45. Reduce holdings on strength to my semiannual risky level of $195.90.
Coca Cola (KO) closed May 26 at $45.39, up 9.5% year to date. The stock set its post-election intraday high of $45.56 on May 26. The stock is 13.8% above its Dec. 1 post-election low of $39.88.


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The weekly chart for Coca Cola is positive but overbought with the stock above its five-week modified moving average of $43.59. The stock is above its 200-week simple moving average of $41.64, which is the “reversion to the mean”. The 12x3x3 weekly slow stochastic reading ended last week at 89.00, well above the overbought threshold of 80.00. Buy weakness to my quarterly pivot of $44.49. Reduce holdings on strength to my semiannual risky level of $47.40.
3-M Company (MMM) closed May 26 at $200.67, up 12.4% year to date. The stock set its all-time intraday high of $200.69 on May 26. The stock is in bull market territory 21% above its Nov. 9 post-election low of $165.84.


Courtesy of MetaStock Xenith
The weekly chart for 3-M Company is positive but overbought with the stock above its five-week modified moving average of $194.97. The stock is well above its 200-week simple moving average of $155.77, which is the “reversion to the mean”. The 12x3x3 weekly slow stochastic reading ended last week at 86.20, well above the overbought threshold of 80.00. Buy weakness to my quarterly value level of $174.14. My annual pivot was a first risky level of $199.33. Reduce holdings on strength to my semiannual risky level of $217.01.
Microsoft (MSFT) closed May 26 at $69.96, up 12.6% year to date. The stock set its all-time intraday high of $70.22 on May 26. The stock is in bull market territory 22.1% above its Nov. 14 post-election low of $57.28.


Courtesy of MetaStock Xenith
The weekly chart for Microsoft is positive but overbought with the stock above its five-week modified moving average of $67.61. The stock is above its 200-week simple moving average of $48.55, which is the “reversion to the mean”. The 12x3x3 weekly slow stochastic reading ended last week at 81.36, just above the overbought threshold of 80.00. Buy weakness to my annual value level of $63.82. The high of $70.22 was an opportunity to reduce holdings between my semiannual pivot of $70.00 and my quarterly risky level of $70.85.
UnitedHealth (UNH) closed May 26 at $177.50, up 10.9% year to date. The stock set its all-time intraday high of $178.89 on May 26. The stock is in bull market territory 30.3% above its Nov. 9 post-election low of $136.22.


Courtesy of MetaStock Xenith
The weekly chart for UnitedHealth is positive but overbought with the stock above its five-week modified moving average of $171.71. The stock is above its 200-week simple moving average of $113.17, which is the “reversion to the mean”. The 12x3x3 weekly slow stochastic reading ended last week at 80.51, just above the overbought threshold of 80.00. Buy weakness to my quarterly value level of $160.33. My semiannual pivot is $173.44. Reduce holdings on strength to my monthly risky level of $184.16.

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