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Uptrend Broken SupportArchive
- 4/5/2024 -
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Old Dominion Freight Line (ODFL) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a first positive week for the Old Dominion Freight Line (ODFL). During the week, the ODFL gained 5.26 points, or 2.40%, and closed at 224.57 on Friday, April 5, 2024. Weekly volume was 26% above average.
ODFL is a member of Industrials Sector. Industrials is the most overbought sector. ODFL is a member of Trucking Industry. Trucking is the ninth most oversold industry. 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. Price is near the lowest trend level.
 Medium-term trend: [See ODFL medium-term trend chart]
A medium-term downtrend had started on March 4, 2024 at 452.34 and reached 211.88 on March 27, 2024. ODFL lost 240.46 points, or 53.16%, in 3 weeks. The price is now at the 5.28% retracement level.
 Weekly Technical Indicators: [See ODFL weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 22, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
Short-term trend: [See ODFL short-term trend chart]
A short-term uptrend had started on April 2, 2024 at 213.90 and reached 224.99 on April 5, 2024. ODFL gained -11.09 points, or -5.18%, in 3 days. Price is near the trend high.
 Daily Technical Indicators: [See ODFL daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since March 4, 2024.
The distance between the Bollinger Bands (189.29%) is close to one year high (159.12%). It is 1170.04% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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