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Slump Below 50 DMA Line Hurt Outlook - Friday, January 7, 2022
Old Dominion Freight Lines (ODFL -$9.59 or -2.80% to $332.60) recently slumped below its 50-day moving average (DMA) line ($351) with volume-driven losses. The prior low ($327) defines the next important support level. A prompt rebound above the 50 DMA line is needed for its outlook to improve. It faces near term resistance up to the $373 level.
ODFL was highlighted in yellow in the 12/07/21 mid-day report (read here) following more than 3 weeks tight with pivot point cited based on its 11/16/21 high plus 10 cents. It was shown in greater detail that evening with an annotated graph under the headline, "Perched at All Time High After Tight Consolidation Several Weeks".
It has a 97 Earnings Per Share Rating. Earnings rose +44% on +32% sales revenues for the Sep '21 quarter, its 5th consecutive comparison above the +25% minimum guideline (C criteria). Its annual earnings growth (A criteria) has been strong.
The number of top-rated funds owning its shares rose from 1,608 in Dec '20 to 1,788 in Sep '21, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under slight accumulation over the past 50 days. It has a Timeliness Rating of A and a Sponsorship Rating of B.
Perched at All Time High After Tight Consolidation Several Weeks - Tuesday, December 7, 2021
Old Dominion Freight Lines (ODFL +$10.87 or +3.08% to $364.00) finished in the middle of its intra-day range after hitting a new all-time high today. It was highlighted in yellow in the earlier mid-day report (read here) following more than 3 weeks tight with pivot point cited based on its 11/16/21 high plus 10 cents. Subsequent gains and a close above the pivot point backed by at least +40% above average volume may help clinch a convincing technical buy signal. The market direction (M criteria) remains a concern regarding any new buying until a new confirmed rally with a follow-through day.
It has a 97 Earnings Per Share Rating. Earnings rose +44% on +32% sales revenues for the Sep '21 quarter, its 5th consecutive comparison above the +25% minimum guideline (C criteria). Its annual earnings growth (A criteria) remained strong while it went through a deep and choppy consolidation then rebounded and rallied impressively since dropped from the Featured Stocks list on 10/10/18.
The number of top-rated funds owning its shares rose from 1,608 in Dec '20 to 1,756 in Sep '21, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of A and a Sponsorship Rating of B.
Trucking Firm Perched at All-Time High - Friday, September 7, 2018
Old Dominion Fght Line (ODFL -$0.17 or -0.10% to $165.18) reversed into the red today after hitting another new high. It was highlighted in yellow with new pivot point cited based on its 6/12/18 high plus 10 cents in the mid-day report (read here). It hit new 52-week and all-time highs with the prior gain backed by +80% above average volume triggering a technical buy signal.
It found support near its 200-day moving average (DMA) line during the consolidation since last noted in the 7/26/18 mid-day report - It reported Jun '18 quarterly earnings +67% on +23% sales revenues, its 3rd consecutive strong quarterly comparison versus the year-ago period.
The number of top-rated funds owning its shares rose from 565 in Sep '17 to 899 in Jun '18, a reassuring sign concerning the I criteria. It has a Timeliness Rating of B and Sponsorship Rating of B. Its small supply of 82 million shares (S criteria) outstanding can contribute to greater volatility in the event of institutional buying or selling.
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