The market has been high on Old Dominion Freight Line Inc (ODFL) stock recently. ODFL gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.
Old Dominion Freight Line Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ODFL!
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With ODFL Stock Today?
Old Dominion Freight Line Inc (ODFL) stock is trading at $302.76 as of 11:52 AM on Friday, Oct 15, a gain of $7.18, or 2.43% from the previous closing price of $295.58. The stock has traded between $297.75 and $304.19 so far today. Volume today is less active than usual. So far 172,165 shares have traded compared to average volume of 589,103 shares.
More About Old Dominion Freight Line Inc
Old Dominion Freight Line is the third-largest less-than-truckload carrier in the United States, with more than 240 service centers and 9,200-plus tractors. OD is by far one of the most disciplined and efficient providers in the trucking industry, and its profitability and capital returns stand head and shoulders above its peers. Strategic initiatives revolve around increasing network density through market share gains and maintaining industry-leading service via consistent infrastructure investment.
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