Top Bears at Dow Jones: Hewlett Packard, Caterpillar and Cisco

US stock markets closed on positive note on Wednesday as Dow Jones Industrial Average slightly gained 0.04 percent or 4.28 points to 11,410.21 levels. Standard & Poor’s 500 index surged 0.09 percent or 1.12 points to 1,193.88 whereas NASDAQ Composite fell 0.47 percent or 11.97 points to 2,511.48 level. Despite positive Dow Jones following DJIA components reported heavy declines in yesterday’s session.

Hewlett-Packard Company (NYSE:HPQ) dropped 3.74 percent to close at $31.39 in yesterday’s session. The share price traded with total volume of 23.92 million shares as compared to its average traded volume of 20.68 million shares per day. The share price moved 9.92 percent below its 50 days simple moving average after yesterday’s fall. The relative strength index of 38.49 also shows that stock has considerable margin for upward movement. Today the share price is still bearish and down 2.64 percent to $3.56 by mid trading session.

Caterpillar Inc (NYSE:CAT) declined 1.91 percent to close at $87.64 in its last trading session. The share price traded with volume figure of 10.62 million shares for the day while on average Caterpillar is traded with 9.90 million shares per day. The share price seems is moving in bearish trend as per its major technical indicators. The share price is also trading near its oversold level as per its RSI of 39.74 and there are chances of major upward change in reaction to a overall bullish rally. Today Caterpillar is again down 4.6 percent to $83.58 by mid day.

Cisco Systems Inc (NASDAQ:CSCO) fell 0.94 percent yesterday with volume figure of 54.50 million shares. Its average traded volume stands at 74.52 million shares per day. The share price was still 2.77 percent above its 50-days simple moving average despite yesterday’s fall. Today the stock has plunged 4.54 percent to $15.13 with traded volume of 63.93 million shares till now.

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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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