Keeping a watchlist during market downturns is crucial, as stocks that weather corrections best often lead in the next rally.Dow Jones Industrial Average
Additionally, the Dow is price-weighted, meaning higher-priced stocks have more influence, potentially distorting its representation. That’s a bit of an archaic way to weigh an index, as a stock's price does not necessarily reflect its quality or value. The stock is forming a consolidation below its July 18 high of $366.78 and closed on October 31, 3.3% above its 50-day moving average.
Amgen stock is still outperforming 89% of stocks on the market, going by its relative strength versus the broader S&P 500UnitedHealth Group’s chart shows a stock getting solid support as it pulled back to its 21-day moving average. The stock gapped up 1.05% on October 31 as the broader market staged a wide rally.
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