Score 9 (out of 10): OLD DOMINION FREIGHT LINE poised to seasonally rally by +8.8% during the next 90 days.

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What’s Going On Here?

Old Dominion Freight Line recently reported their second quarter earnings of 2022 which included new company records for revenue and profitability.

Why Now?

OLD DOMINION FREIGHT LINE indicates an interesting 90 days seasonal set up. During similar occasions, OLD DOMINION FREIGHT LINE shares had a median return of +8.8% – based on 9 historical occasions with 9 of those showing positive returns (100%). This buy signal for OLD DOMINION FREIGHT LINE received a high score of 9 (out of 10). This insight was generated with last price of 295.7.

What’s This Company About?

OLD DOMINION FREIGHT LINE is in the Transport-Truck business. Based on the last 2 years’ risk/return profile, this asset is seen as Moderate Risk. Ticker symbol: ODFL US.

What’s My Risk / Reward and Time Horizon?

We found 90 days to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 321.82 (+8.8%) has been reached. Based on OLD DOMINION FREIGHT LINE’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 281.4 (last price at 295.7), which is equivalent to a -4.8% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

20.3% (September-2021), 5.6% (September-2020), 16% (September-2019), 3.8% (September-2018), 7.5% (September-2017), 10.2% (September-2016), 2.8% (September-2015), 11.2% (September-2014), 17% (September-2013)

Historical Chart:

Summary:

NameOLD DOMINION FREIGHT LINE
ViewUp
Star (1 to 10)9
Target8.8%
Time90 days
Hit Rate100%

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