Dow Jones Stocks To Buy And Watch For April 2022; Apple Shows Buy Point
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The Dow Jones Industrial Average ended March sharply off its February lows. The best Dow Jones stocks to buy and watch in April are American Express (AXP), Apple (AAPL), Caterpillar (CAT), Chevron (CVX) and Microsoft (MSFT).
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There are clear winners — and losers — at the end of March. The top three performing Dow Jones stocks through March 31 were Chevron, Travelers (TRV) and American Express with advances of 38.8%, 16.8% and 14.3%, respectively.
The three biggest Dow Jones losers in March were Home Depot (HD), Nike (NKE) and Salesforce.com (CRM) with respective declines of 27.9%, 19.3% and 16.45%.
The tech-heavy Nasdaq finished March down 9.1%. The S&P 500 was down 4.95%, while the Dow Jones Industrial Average was down 4.6% through March 31.
What Is The Dow Jones Industrial Average?
Founded in 1896 with 12 stocks, the Dow Jones Industrial Average is one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&P 500 index — an index of the 500 largest companies in the United States.
Best Dow Jones Stocks To Buy And Watch
| Company Name | Symbol | Closing Price | 2022 YTD Performance |
|---|---|---|---|
| American Express | (AXP) | 187.00 | +14.3% |
| Apple | (AAPL) | 174.61 | -1.7% |
| Caterpillar | (CAT) | 222.82 | +7.8% |
| Chevron | (CVX) | 162.83 | +38.8% |
| Microsoft | (MSFT) | 308.31 | -8.3% |
Source: IBD Data As Of March. 31, 2022
Amid the current stock market rally — according to the IBD Big Picture — investors should focus on the top stocks that show strong relative strength after the recent stock market weakness. They could be some of market’s leaders if the Dow Jones Industrial Average is able to extend its recent rally.
Potential Dow Jones stocks to buy and watch in April that are in or near buy zones include American Express, Apple, Caterpillar, Chevron and Microsoft.
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Dow Jones Stock Leader Eyes Buy Point
American Express is building a cup with handle with a 194.45 buy point. Shares are finding support around their 200-day line, but are still below their 50-day line.
AXP shares moved up 1% Monday.
Apple Stock
Apple stock rose 0.2% Monday, but is still below its 50-day line. The stock shows a latest buy point at 179.71, as a result of a handle on a double-bottom base. A breakout past a double bottom’s 176.75 buy point failed Thursday when the stock fell more than 7% below the entry, according to IBD MarketSmith chart analysis.
According to the IBD Stock Checkup, Apple stock shows a 93 out of a best-possible 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.
Caterpillar Stock
Caterpillar is in buy range past a cup with handle‘s 227.15 buy point. On the upside, the stock’s relative strength line is at its highest level since June 2021. CAT shares rallied more than 2% Monday.
The company will report its first-quarter earnings results on April 28 before the stock market open.
Chevron Stock
Energy giant Chevron is tracing a flat base with a 174.86 buy point. CVX shares are sharply above a cup base’s 113.21 buy point after an Oct. 20 breakout.
Chevron shares gained 1% Monday.
Microsoft Stock
Software leader Microsoft climbed 0.4% Monday, as the top Dow Jones stock continues to build a new base. MSFT shares are below their 200-day line.
Microsoft is an IBD Leaderboard stock.
Tip: Before making any investment decisions, be sure to check current market conditions, and use IBD Stock Checkup to see if your stock gets passing ratings for the most important fundamental and technical criteria. To get ongoing chart analysis, and alerts to buy and sell signals, check out the unique features, stock lists and chart annotations at MarketSmith, Leaderboard and SwingTrader.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on Dow Jones stocks and the stock market.
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