How the (ODFL) price action is used to our Advantage
October 08, 2024, 13:20 pm ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ODFL
- Buy ODFL near 191.21 target 211.02 stop loss @ 190.66 Details
The technical summary data tells us to buy ODFL near 191.21 with an upside target of 211.02. This data also tells us to set a stop loss @ 190.66 to protect against excessive loss in case the stock begins to move against the trade. 191.21 is the first level of support below 191.61 , and by rule, any test of support is a buy signal. In this case, support 191.21 is being tested, a buy signal would exist.
- Short ODFL slightly under 211.02, target 191.21, stop loss @ 211.63 Details
The technical summary data is suggesting a short of ODFL as it gets near 211.02 with a downside target of 191.21. We should have a stop loss in place at 211.63though. 211.02 is the first level of resistance above 191.61, and by rule, any test of resistance is a short signal. In this case, if resistance 211.02 is being tested, a short signal would exist.
Swing Trading Plans for ODFL
- Buy ODFL slightly over 194.71, target 211.02, Stop Loss @ 194.15 Details
If 194.71 begins to break higher, the technical summary data tells us to buy ODFL just slightly over 194.71, with an upside target of 211.02. The data also tells us to set a stop loss @ 194.15 in case the stock turns against the trade. 194.71 is the first level of resistance above 191.61, and by rule, any break above resistance is a buy signal. In this case, 194.71, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short ODFL slightly near 194.71, target 191.21, Stop Loss @ 195.27. Details
The technical summary data is suggesting a short of ODFL if it tests 194.71 with a downside target of 191.21. We should have a stop loss in place at 195.27 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 194.71, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for ODFL
- Buy ODFL slightly over 194.71, target 211.02, Stop Loss @ 194.26 Details
If 194.71 begins to break higher, the technical summary data tells us to buy ODFL just slightly over 194.71, with an upside target of 211.02. The data also tells us to set a stop loss @ 194.26 in case the stock turns against the trade. 194.71 is the first level of resistance above 191.61, and by rule, any break above resistance is a buy signal. In this case, 194.71, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short ODFL slightly near 194.71, target 191.21, Stop Loss @ 195.16. Details
The technical summary data is suggesting a short of ODFL if it tests 194.71 with a downside target of 191.21. We should have a stop loss in place at 195.16 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 194.71, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Old Dominion Freight Line Inc. (ODFL) available here: ODFL.
ODFL Ratings for October 08:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Neutral |
| P1 |
0 |
0 |
172.65 |
| P2 |
187.32 |
188.28 |
191.21 |
| P3 |
189.83 |
194.71 |
211.02 |
AI Generated Signals for ODFL
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Old Dominion Freight Line Inc. (NASDAQ: ODFL) data table below can help you with price action, and we have more details too. Trading plans for ODFL are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for ODFL:
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