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Old Dominion Freight Line Is Ready to Roll Again

·2 min read
Old Dominion Freight Line Is Ready to Roll Again
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Many transportation, shipping and logistics companies have suffered declines in recent months, but some names have started to recover. In this daily bar chart of ODFL, below, we can see that prices have equal lows in May and June, and have rallied to test and break the declining 50-day moving average line. The daily On-Balance-Volume (OBV) line shows weakness from January but now shows some steadiness and hopefully a reversal to the upside.