I'm calling a top here. Super over-extended. P/E is bonkers for a trucking company. Expecting this to cool down very soon. Forming a hanging man candle at the top of the trend resistance today..
Not the popular thing to do.
Near Term price target of $255-$250
Medium Term price target of $235-$230.
(Opinion Only)
ODFL - It has completed impulse up cycle in 4 hr time frame from major low. The sharp drop looks more like a wave A and expected to correct in B wave in choppy fashion. Sell it near 206-210 with stop level above 213.15 for target zone near 190 or even lower level. If it crosses above new high, then it starts extending 5th wave and can go much higher thereafter....
NASDAQ:ODFL
ODFL has seen increased sponsorship and built a setup that was set until today's price action across the market struck.
Current buy is at 205.11. Consider selling if dropping further to $195
Earnings 10-27 BMO and they do miss
But Zack says it is a buy..lol...Zack is not always right so do your research
Not to long entry level/this pattern is only valid at or over entry level
NV is high on this one as is OBV
ODFL fell from a Risng wedge but seems to have recovered
Transport having a bit of a pull back as of late
Go with your gut on this one if...
Dividends produce dips, folks hold til they get their 40 cents and then dump.
Watch for next entry point to make my standard 45% return on this bad boy. I love it.
Hi friends
the daily chart shows that it will experience an uptrend in the next few days with a very high probability but at the same time it is better to be vigilant of the change from the direction to the opposite
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Old Dominion is a jewel of a company, and is very well run. I feel confident targeting $190/share if we get a nice bullish confirmation candle.
21.47B Market Cap
Income 615.4M
Sales 4.11B
Div% 0.33%
P/E 35.19
Forward P/E 31.24
P/FCF 46.5
Quick Ratio 1.90
EPS this Y 3.7%
EPS Next Y 21.97%
Sales Q/Q -0.3%
EPS Q/Q 1.5%
ROA +15.8%
ROI +19.5%
Profit Margin +15%...
A few standard reasons to take this trade. It is near an ATH which is something that I don't prefer. Various other reasons for taking this trade on ODFL that i didn't mention.
What I see...
+ 10ma support
+ prices pulled back from last week's high
+ bullihs MACD
+ RSI is side way
+ Consecutive NR7 on descending volume
- Upper shadows in the past few days
- Both RSI and MACD look to be turning bearish
- Higher price stock
What I setup...
+ Long entry above -1d high
- Stop is today's low
+ Target is at $177
:: Duration - 4 to 10...
What I see...
+ Prices bounced back from mid-March low of $110 forming a v-shape pattern
+ Along the way, prices zig zac along major Fib marks
+ Huge vol. back in Dec!
+ Prices moved side way in the past few sessions
+ MACD has crossed upward
+ Both 10 and 50 MA are above 200MA
+ RSI at 62
+ 52 week & all-time high
- prices are distance from 10MA
- prices could...
Finished on lows of the day. I propose the idea of going short this overbought trucking stock. All ideas are opinions only and should not be considered trading advice.
ODFL
For the short-term I believe the industrials are in for a correction. Pick areas where it's re-testing previous day's high. Of course, this is just my opinion. Do your own due diligence. This is not trading advice.
My ideas are:
ODFL
JBHT
IYJ
Very extended beyond its 50 day avg at $168 RSI showing overbought...especially on a miss on eps and revenue today... I’ve opened a put position. Do your own due diligence. Goodluck.
With Transports going out to all time highs ODFL ran across my screen
Todays close presents us with a great risk reward oppurtunity.
Thesis is for monthly timeframe to catch 70 RSI level support here and remain in an out right bullish trend.
