September 01, 2024, 11:18 am ET, BY Neal - Contributor |
Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ODFL
- Buy ODFL slightly over 191.23 target 212.02 stop loss @ 190.68 Details
The technical summary data tells us to buy ODFL near 191.23 with an upside target of 212.02. This data also tells us to set a stop loss @ 190.68 to protect against excessive loss in case the stock begins to move against the trade. 191.23 is the first level of support below 192.8 , and by rule, any test of support is a buy signal. In this case, support 191.23 is being tested, a buy signal would exist.
- Short ODFL slightly under 212.02, target 191.23, stop loss @ 212.63 Details
The technical summary data is suggesting a short of ODFL as it gets near 212.02 with a downside target of 191.23. We should have a stop loss in place at 212.63though. 212.02 is the first level of resistance above 192.8, and by rule, any test of resistance is a short signal. In this case, if resistance 212.02 is being tested, a short signal would exist.
Swing Trading Plans for ODFL
- Buy ODFL slightly over 197.41, target 212.02, Stop Loss @ 196.84 Details
If 197.41 begins to break higher, the technical summary data tells us to buy ODFL just slightly over 197.41, with an upside target of 212.02. The data also tells us to set a stop loss @ 196.84 in case the stock turns against the trade. 197.41 is the first level of resistance above 192.8, and by rule, any break above resistance is a buy signal. In this case, 197.41, 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 197.41, target 191.23, Stop Loss @ 197.98. Details
The technical summary data is suggesting a short of ODFL if it tests 197.41 with a downside target of 191.23. We should have a stop loss in place at 197.98 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, 197.41, 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 197.41, target 212.02, Stop Loss @ 196.95 Details
If 197.41 begins to break higher, the technical summary data tells us to buy ODFL just slightly over 197.41, with an upside target of 212.02. The data also tells us to set a stop loss @ 196.95 in case the stock turns against the trade. 197.41 is the first level of resistance above 192.8, and by rule, any break above resistance is a buy signal. In this case, 197.41, 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 197.41, target 192.2, Stop Loss @ 197.87. Details
The technical summary data is suggesting a short of ODFL if it tests 197.41 with a downside target of 192.2. We should have a stop loss in place at 197.87 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, 197.41, 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 September 01:
Term → | Near |
Mid |
Long |
Rating |
Weak |
Neutral |
Neutral |
P1 |
0 |
0 |
171.69 |
P2 |
188.07 |
190.21 |
191.23 |
P3 |
192.2 |
197.41 |
212.02 |
AI Generated Signals for ODFL
Blue = Current Price
Red = Resistance
Green = Support
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