Old Dominion Freight Line, Inc. : Driving through resistance levels
By Alexis Peyrard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$64.49 | $70 | $62.81 | +8.54% |
Technically, the share is in a strong long term bullish trend. Prices progression is supported by well oriented moving averages on all time scales. However, the equity was recently blocked by the resistance of USD 64.60. Thus, profit taking could be engaged in the coming sessions. The crossing of this level would invalidate this idea and would be a signal of a resuming bullish trend.
Consequently, a purchase may take place over USD 64.60 with USD 70 as main target. However, a stop order will be placed below the entry points in case of failure of the bullish overflow.