Bank of America, Walt Disney and AT&T Perform Despite Lower DJIA

Dow Jones ended lower on Thursday as the DJIA fell 0.21 percent or 26.41 points to settle at 12,393.45 for the day. Following stocks performed in yesterday’s session despite bearish sentiments.

Bank of America Corporation (BAC) surged 2.08 percent to close at $7.35 in yesterday’s session. The traded volume stood at 203.03 million shares as compared to its average traded volume figure of 240.16 million shares per day. The share price moved to its relative strength index of 41.85 which shows that the stock price has considerable margin for upward movement.

Walt Disney (DIS) advanced 1.13 percent to close at $45.71 with traded volume of 14.64 million shares in yesterday’s trading session. The share price maintains the average traded volume of 8.78 million shares per day. Looking at its capital structure, the company has total outstanding common stock of 1.79 billion shares out of which 1.65 billion shares are floated in the stock market. The stock’s relative strength index stands at 61.59 which shows that the share price is trading near its overbought level.

AT&T (T) gained 0.98 percent to close at $34.17 in yesterday’s session. The traded volume stood at 32.25 million shares as compared to its average volume figure of 27.66 million shares per day. The share price moved to price to earnings of 49.52 times which creates an alarming situation. Moreover, the share price is also trading at its extreme overbought level which can be seen by its relative strength index of 70.02.

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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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