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Archive
- 12/20/2024 -
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Old Dominion Freight Line (ODFL) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Old Dominion Freight Line (ODFL). During the week, the ODFL dropped -19.30 points, or -9.62%, and closed at 181.40 on Friday, December 20, 2024. Weekly volume was 72% 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 downtrend had started on March 4, 2024 at 452.34 and reached 165.49 on June 6, 2024. ODFL lost 286.85 points, or 63.41%, in 13 weeks. The price is now at the 5.55% retracement level.
 Medium-term trend: [See ODFL medium-term trend chart]
A medium-term uptrend had started on June 6, 2024 at 165.49 and reached 233.30 on November 11, 2024. ODFL gained -67.81 points, or -40.98%, in 22 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (197.42) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ODFL may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See ODFL weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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 above its signal line since July 12, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 December 6, 2024 at 206.62 and reached 176.00 on December 20, 2024. ODFL lost 30.62 points, or 14.82%, in 14 days. The price is now at the 17.64% retracement level.
 Daily Technical Indicators: [See ODFL daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Relative Strength Index and Lane's Stochastic. 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 November 18, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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