|
Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
Old Dominion Freight Line (ODFL) Technical Analysis
|
|
| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Old Dominion Freight Line (ODFL). During the week, the ODFL dropped -7.18 points, or -1.68%, and closed at 421.11 on Friday, March 15, 2024. Weekly volume was 9% above average. ODFL is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See ODFL long-term trend chart] A long-term uptrend had started on May 19, 2022 at 231.31 and reached 452.34 on March 4, 2024. ODFL gained -221.03 points, or -95.56%, in 93 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 346.56 and resistance is at 497.07. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend. Medium-term trend: [See ODFL medium-term trend chart] A medium-term uptrend had started on October 25, 2023 at 357.00 and reached 452.34 on March 4, 2024. ODFL gained -95.34 points, or -26.71%, in 18 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 387.39 and resistance is at 456.55. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend. Weekly Technical Indicators: [See ODFL weekly technical indicators chart] Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help. The weekly MACD line is above its signal line since February 9, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See ODFL short-term trend chart] A short-term downtrend had started on March 7, 2024 at 446.57 and reached 420.01 on March 14, 2024. ODFL lost 26.56 points, or 5.95%, in 7 days. Price is near the trend low. Daily Technical Indicators: [See ODFL daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since March 4, 2024. This is an indication that the short-term trend is down. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
| |
|
|