Old Dominion Freight Line, Inc. stock trades under the ticker ODFL & has shown recent bullishness that traders & investors should research further into for when market volatility has subsided.
ODFL stock closed at $310.19/share on 5/25/2023.
Old Dominion Freight Line, Inc. ODFL Stock’s Technical Performance Broken Down
ODFL Stock Price: $310.19
10 Day Moving Average: $303.87
50 Day Moving Average: $324.60
200 Day Moving Average: $305.02
MACD: -6.798, -7.300, 0.502
Yesterday, ODFL stock completed a bullish MACD crossover, gaining +3.23% on the day’s session.
Their RSI is returning back to neutral from being near over-sold levels, with recent trading levels being about average compared to the year prior.
Investors would be best suited to watch how ODFL behaves around support levels in the coming weeks in order to figure out where they may like to enter a position at a less volatile time.
ODFL has support at the $308.87, $305.02 (200 day moving average), $304.37 & $303.87/share (10 day moving average) price levels, with resistance at the $320.85, $321.41, $322.62 & $322.66/share price levels.
Old Dominion Freight Line, Inc. ODFL Stock As A Long-Term Investment
Investors with longer time horizons will like ODFL stock’s 25.08 P/E (ttm), but will find their 9.20 P/B (mrq) to be higher than they’d like to see.
They recently reported -3.7% Quarterly Revenue Growth Y-o-Y, with -4.9% Quarterly Earnings Growth Y-o-Y, which investors should look closer into as well before investing.
Their balance sheet looks appealing, with $232.43M of Total Cash (mrq) & $99.97M of Total Debt (mrq).
ODFL stock pays a modest 0.43% dividend, which appears to be sustainable in the long-run, as their payout ratio is 10.69%.
77.48% of ODFL stock’s outstanding share float is owned by institutional investors.
Old Dominion Freight Line, Inc. ODFL Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can trade options to profit from price movements in ODFL stock, while protecting their portfolios from volatility.
I am looking at the contracts with the 6/16 expiration date.
The $310, $290 & $280 call options are all in-the-money, with the former being more liquid than the latter two strikes.
The $320, $330 & $340 puts are also all in-the-money, listed from highest to lowest level of open interest.
Tying It All Together
ODFL stock has many interesting characteristics that traders & investors will like.
Investors will like their balance sheet & modest, but sustainable dividend yield, but may want to look closer into their recent growth metrics before investing at a less volatile time.
Traders will like their recent technical performance, as well as how liquid their options are.
Overall, it is worth taking a closer look to see how ODFL stock fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN ODFL STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***