Alcoa, Bank of America and Boeing Makes Dow Jones fall 0.46%

Further correction was seen at US stock markets on Tuesday as the Dow Jones Industrial Average fell 0.46 percent or 53.59 points to 11,493.72. Standard & Poor’s 500 index declined 0.41 percent or 4.94 points to 1,188.04 while NASDAQ Composite dropped to 2,521.28 points.

Alcoa Inc (NYSE:AA) was the top decliner at Dow Jones and fell 2.22 percent to close at $9.26 in it last trading session. The share price traded with volume of 29.20 million shares as compared to its average traded volume figure of 33.88 million shares per day. The share price moved 10.58 percent below its 50-days simple moving average after yesterday’s fall. Its relative strength index of 36.59 depicts that the stock price has considerable margin for upward movement.

Bank of America Corp (NYSE:BAC) declined 2.19 percent to close at $5.37 in yesterday’s trading session. The traded volume stood at 269.98 million shares as compared to its average volume figure of 290.79 million shares per day. The share price moved 16.11 percent below its 50-days simple moving average after yesterday’s decline. The stock is also trading near its oversold level as per relative strength index of 34.42 times.

The Boeing Company (NYSE:BA) plunged 1.85 percent to close at $64.35 with traded volume of 5 million shares in yesterday’s session. Boeing on average trades with volume figure of 5.91 million shares per day. The share price was still 1.23 percent up its 50-days simple moving average despite yesterday’s fall.

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Rehan Khan

About Rehan Khan

Rehan Khan has been involved in the financial sector for last 6 years. During that time he has been associated with many financial institutions, banks and brokerages. Rehan is also a graduate in finance and has been writing for last 2 years for various web publications, specializing in US stock markets, penny stocks, forex and commodities.

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