ODFL.NAS_Bearish Pullback Trade_Short

NASDAQ:ODFL   Old Dominion Freight Line, Inc.
ENTRY: 268.72
SL: 291.45
TP1: 256.98
TP2: 246.65

- ADX>20
- Daily RS -ve
- Daily FFI +ve
- Weekly RS -ve
- Weekly FFI -ve
- Short-term downtrending stock.
- EMAs are aligned.
- Stoch RSI still above overbought area and waiting for it to cross down 70.
- Price pulled back to 20EMA and seems to reject support turn resistance area and monthly CPR since 20 Apr 2022.
- Entry based on initial >3% bounce from 10/20EMA.
- Would like a better closing.
Trade closed: stop reached

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