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Downtrend Broken Resist.Archive
- 4/26/2024 -
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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 -29.40 points, or -13.88%, and closed at 182.42 on Friday, April 26, 2024. Weekly volume was 238% above average.
ODFL is a member of Industrials Sector. Industrials is the second most overbought sector. ODFL is a member of Trucking Industry. Trucking is the 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. The price is now at the 122.12% retracement 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 181.30 on April 26, 2024. ODFL lost 271.04 points, or 59.92%, in 7 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See ODFL weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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 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 downtrend had started on April 23, 2024 at 220.32 and reached 181.30 on April 26, 2024. ODFL lost 39.02 points, or 17.71%, in 3 days. Price is near the trend low.
 Daily Technical Indicators: [See ODFL daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range.
The daily MACD line is above its signal line since April 12, 2024. The distance between MACD and the signal line is low and getting smaller.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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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