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Uptrend SupportArchive
- 12/13/2024 -
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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 -2.30 points, or -1.13%, and closed at 200.70 on Friday, December 13, 2024. Weekly volume was -28% below 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 12.27% retracement level.
 Medium-term trend: [See ODFL medium-term trend chart]
A medium-term uptrend had started on September 5, 2024 at 179.82 and reached 233.30 on November 11, 2024. ODFL gained -53.48 points, or -29.74%, in 9 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (197.48) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See ODFL weekly technical indicators chart]
Weekly technical indicators are neutral.
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 November 11, 2024 at 233.30 and reached 200.20 on December 12, 2024. ODFL lost 33.10 points, or 14.19%, in 31 days. Price is near the trend low.
 Daily Technical Indicators: [See ODFL daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range 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 relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.
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