OLD DOMINION FREIGHT LINE INC. - Daily - Technical analysis published on 03/28/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
44%
11%
44%
My opinion
Bullish above 207.62 USD
My targets
222.82 USD (+2.08%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on OLD DOMINION FREIGHT LINE INC. as long as the price remains well above 207.62 USD. The buyers' bullish objective is set at 222.82 USD. A bullish break in this resistance would boost the bullish momentum. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
OLD DOMINION FREIGHT LINE INC. rating 218.28 USD. On the day, this instrument gained +2.01% with the lowest point at 213.21 USD and the highest point at 219.25 USD. The deviation from the price is +2.38% for the low point and -0.44% for the high point.213.21
219.25
218.28
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of OLD DOMINION FREIGHT LINE INC. indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
The probability of a further increase is slight given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 202.25 | 207.62 | 217.27 | 218.28 | 222.82 |
| Change (%) | -7.34% | -4.88% | -0.46% | - | +2.08% |
| Change | -16.03 | -10.66 | -1.01 | - | +4.54 |
| Level | Minor | Major | Major | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 202.91 | 207.39 | 210.69 | 215.17 | 218.47 | 222.95 | 226.25 |
| Camarilla | 211.84 | 212.55 | 213.27 | 213.98 | 214.69 | 215.41 | 216.12 |
| Woodie | 202.31 | 207.10 | 210.09 | 214.88 | 217.87 | 222.66 | 225.65 |
| Fibonacci | 207.39 | 210.37 | 212.20 | 215.17 | 218.15 | 219.98 | 222.95 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 196.09 | 202.21 | 211.37 | 217.49 | 226.65 | 232.77 | 241.93 |
| Camarilla | 216.34 | 217.74 | 219.14 | 220.54 | 221.94 | 223.34 | 224.74 |
| Woodie | 197.62 | 202.97 | 212.90 | 218.25 | 228.18 | 233.53 | 243.46 |
| Fibonacci | 202.21 | 208.04 | 211.65 | 217.49 | 223.32 | 226.93 | 232.77 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 161.82 | 174.85 | 197.91 | 210.94 | 234.00 | 247.03 | 270.09 |
| Camarilla | 211.06 | 214.36 | 217.67 | 220.98 | 224.29 | 227.60 | 230.91 |
| Woodie | 166.85 | 177.36 | 202.94 | 213.45 | 239.03 | 249.54 | 275.12 |
| Fibonacci | 174.85 | 188.63 | 197.15 | 210.94 | 224.72 | 233.24 | 247.03 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 53.59 | |
| MACD (12,26,9): | 1.1400 | |
| Directional Movement: | -1.35 | |
| AROON (14): | 14.29 | |
| DEMA (21): | 218.14 | |
| Parabolic SAR (0,02-0,02-0,2): | 209.79 | |
| Elder Ray (13): | -0.48 | |
| Super Trend (3,10): | 208.55 | |
| Zig ZAG (10): | 218.50 | |
| VORTEX (21): | 0.9300 | |
| Stochastique (14,3,5): | 52.71 | |
| TEMA (21): | 216.71 | |
| Williams %R (14): | -33.41 | |
| Chande Momentum Oscillator (20): | -2.02 | |
| Repulse (5,40,3): | -0.2800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1000 | |
| Courbe Coppock: | 1.20 |
| MA7: | 218.11 | |
| MA20: | 216.95 | |
| MA50: | 211.60 | |
| MA100: | 204.13 | |
| MAexp7: | 216.94 | |
| MAexp20: | 216.26 | |
| MAexp50: | 212.23 | |
| MAexp100: | 206.55 | |
| Price / MA7: | +0.08% | |
| Price / MA20: | +0.61% | |
| Price / MA50: | +3.16% | |
| Price / MA100: | +6.93% | |
| Price / MAexp7: | +0.62% | |
| Price / MAexp20: | +0.93% | |
| Price / MAexp50: | +2.85% | |
| Price / MAexp100: | +5.68% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on OLD DOMINION FREIGHT LINE INC. at the time of the analysis were as follows:
- Old Dominion Freight Line Reports Second Quarter 2023 Earnings Per Diluted Share of $2.65
- Old Dominion Freight Line Announces $0.40 Per Share Quarterly Cash Dividend
- Old Dominion Freight Line Releases 2022 ESG Report
- Old Dominion Freight Line to Webcast Second Quarter 2023 Conference Call
- Old Dominion Freight Line Provides Update for Second Quarter 2023
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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