Bearish sentiments dominated the stock markets on Monday as the Dow Jones Industrial Average plunged 2.11 percent or 248.85 points to 11,547.31. Standard & Poor’s 500 index fell 1.86 percent or 22.67 points to 1,192.98 while NASDAQ Composite dropped to 2,523.14 for the day.
Bank of America Corp (NYSE:BAC) reported the highest decline among Dow Jones components on Monday and fell 5.02 percent to $5.49 with traded volume of 269.33 million shares. The share price moved 14.65 percent below its 50-days simple moving average after yesterday’s decline. The share price is trading at relative strength index of 36.62 which shows that the stock is trading near its oversold level and has considerable margin for capital gains.
Hewlett-Packard Company (NYSE:HPQ) fell 4.04 percent to close at $26.86 in yesterday’s trading session. The share price traded with volume of 34.48 million shares as compared to its average traded volume figure of 25.30 million shares per day. The share price was still 6.76 percent above its 50-days simple moving average despite yesterday’s heavy decline.
The Walt Disney Company (NYSE:DIS) declined 3.65 percent to close at $34.33 with traded volume figure of 39.96 million shares. The share price on average trades with volume figure of 13.41 million shares per day. Yesterday’s fall seemed to be backed by strong volume figure if its compared with the share price average volume. The share price is trading at relative strength index of 49.43 depicting its considerable margin for upward movement.
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