How the (ODFL) price action is used to our Advantage

February 28, 2024, 08:14 am ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ODFL

• Buy ODFL slightly over 426.3 target 464.61 stop loss @ 425.07 Details

The technical summary data tells us to buy ODFL near 426.3 with an upside target of 464.61. This data also tells us to set a stop loss @ 425.07 to protect against excessive loss in case the stock begins to move against the trade. 426.3 is the first level of support below 441.06 , and by rule, any test of support is a buy signal. In this case, support 426.3 is being tested, a buy signal would exist.

• Short ODFL slightly under 464.61, target 426.3, stop loss @ 465.95 Details

The technical summary data is suggesting a short of ODFL as it gets near 464.61 with a downside target of 426.3. We should have a stop loss in place at 465.95though. 464.61 is the first level of resistance above 441.06, and by rule, any test of resistance is a short signal. In this case, if resistance 464.61 is being tested, a short signal would exist.

Swing Trading Plans for ODFL

• Buy ODFL slightly over 445.89, target 464.61, Stop Loss @ 444.6 Details

If 445.89 begins to break higher, the technical summary data tells us to buy ODFL just slightly over 445.89, with an upside target of 464.61. The data also tells us to set a stop loss @ 444.6 in case the stock turns against the trade. 445.89 is the first level of resistance above 441.06, and by rule, any break above resistance is a buy signal. In this case, 445.89, 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 445.89, target 428.98, Stop Loss @ 447.18. Details

The technical summary data is suggesting a short of ODFL if it tests 445.89 with a downside target of 428.98. We should have a stop loss in place at 447.18 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, 445.89, 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 442.33, target 445.89, Stop Loss @ 441.3 Details

If 442.33 begins to break higher, the technical summary data tells us to buy ODFL just slightly over 442.33, with an upside target of 445.89. The data also tells us to set a stop loss @ 441.3 in case the stock turns against the trade. 442.33 is the first level of resistance above 441.06, and by rule, any break above resistance is a buy signal. In this case, 442.33, 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 442.33, target 428.98, Stop Loss @ 443.36. Details

The technical summary data is suggesting a short of ODFL if it tests 442.33 with a downside target of 428.98. We should have a stop loss in place at 443.36 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, 442.33, 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 February 28:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	388.97
P2	442.33	428.98	426.3
P3	452.53	445.89	464.61

AI Generated Signals for ODFL

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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.