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The shares of Dow (DOW) are up 11% to this point in 2023, with a flooring on the $55.50 stage containing a number of pullbacks since January. Whereas the $61 area stifled the fairness’s February rally try, it seems to be as if it would escape once more quickly, because it nears a traditionally bullish trendline.
Refinitiv Eikon
A shift in analyst sentiment might create further tailwinds that assist Dow inventory topple that aforementioned technical ceiling. Of the 17 companies in protection, 16 name the fairness a tepid “maintain” or worse, whereas just one says “robust purchase.”
Now seems to be a superb time to weigh in on the safety’s subsequent transfer with choices, as premiums are attractively priced. That is per DOW’s Schaeffer’s Volatility Index (SVI) of 27%, which ranks on the low sixteenth percentile of readings from the final 12 months.
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