Top Performing Dow Component: Bank of America

Published on Monday, 06 August 2012 12:35 Written by Christopher Lynn

New York, August 6th (TradersHuddle.com) - The Dow Jones Industrial Average is higher trading at 13165.5, which represents 0.53% versus its previous trading session close, with only five of its components trading in negative territory.

Bank of America (NYSE:BAC) is the Dow's top performer this morning with the stock trading at $7.63 representing 2.69% versus the previous trading session. Shares of Bank of America, the largest U.S. lender have defined support at $6.90 and resistance at $7.40.

Caterpillar (NYSE:CAT) is also among the top performers early in the session, trading at $86.68 representing 1.95% from its previous close. Caterpillar, the largest earth moving equipment maker in the world has calculated support and resistance levels at $82.10 and $86.97 respectively. The other top performer this morning is Hewlett Packard (NYSE:HPQ), which is trading at $18.6 representing 1.88% from the previous trading session.

The Dow's worst performers include JNJ (NYSE:JNJ) that is trading at $69 or -0.18% from the previous close. Shares of JNJ, the consumer health care products company maker of Tylenol and Sudafed have defined support at $61.71 and resistance at $67.00. Also among the worst performers we have Wal-Mart (NYSE:WMT), which is trading at $74.5 representing -0.07% from the previous session.

Benchmark crude for August delivery is also trading higher at $92.66 a barrel on the New York Mercantile Exchange higher by $0 from the previous trading session.

The Dow is under performing the S&P 500, but is pretty much equal with the NASDAQ composite. The S&P 500 is currently trading at 1397.7, which represents 0.48% from previous close, the Nasdaq on the other hand is trading at 2995.17 that represents 0.92% from previous session.