Dow Jones Stocks To Buy And Watch In November 2020: Apple, Microsoft Test Key Support Level
The Dow Jones Industrial Average ended October in a stock market correction, but quickly reentered an uptrend in the wake of the 2020 election results. Top Dow Jones stocks to watch in November are Apple, Microsoft and Salesforce.com.
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There are clear winners — and losers — through the first ten months of 2020. The top three performing Dow Jones stocks through Nov. 6 were Apple (AAPL), recently-added Salesforce.com (CRM) and Microsoft (MSFT) with gains of 61.7%, 60.0% and 41.9%, respectively.
The three biggest losers through October were Boeing (BA), Chevron (CVX) and Walgreens Boots Alliance (WBA) with declines of 55.7%, 42.3% and 42.3%, respectively.
Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 32.1% for the year through Friday’s close. Meanwhile, the S&P 500 is up 10.1%, while the Dow is up 2.5% year to date, through the Nov. 20 close.
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 | 2020 YTD Performance |
|---|---|---|---|
| Apple | (AAPL) | 118.69 | +61.7% |
| Home Depot | (HD) | 284.24 | +30.2% |
| Microsoft | (MSFT) | 223.72 | +41.9% |
| Nike | (NKE) | 128.90 | +27.2% |
| Salesforce.com | (CRM) | 260.15 | +60.0% |
| Walmart | (WMT) | 145.77 | +22.7% |
Source: IBD Data As Of Nov. 6, 2020
Amid the new stock market rally— according to the IBD Big Picture — investors should be focusing on the stocks that held up the best during the recent market weakness. These stocks will have strong relative strength lines, and could be some of the new uptrend’s stock market leaders.
Potential Dow Jones stocks to buy and watch in November that are in or near buy zones include Apple, Microsoft and Salesforce.com.
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Apple Stock
Apple stock is holding above its key 50-day support level and is approaching an early buy point at 125.49, according to MarketSmith chart analysis. Apple shares are about 14% away from a 138.08 conventional entry in a consolidation base. An early entry exists at 125.49.
Shares fell 0.3% Monday.
According to the IBD Stock Checkup, Apple stock shows an 88 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.
Microsoft Stock
Software giant Microsoft moved up 0.7% Monday. Shares are trying to again find support at their key 10-week line. The stock is approaching a proper buy point at 228.22.
Microsoft is an IBD Leaderboard stock.
Salesforce Stock
Dow Jones leader Salesforce.com is trading below a 271.02 buy point in a double bottom with handle, according to MarketSmith chart analysis. Shares rose 0.9% Monday.
Salesforce.com is the No. 2 performer with a 58.7% year-to-date advance through Friday’s close.
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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