Many transportation, shipping and logistics companies have suffered declines in recent months, but some names have started to recover. Let's check out the charts of Old Dominion Freight Lines (ODFL) .
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. Closing above the early June highs is the next technical hurdle to clear. The slope of the 200-day line is negative and intersects around $205.
The daily On-Balance-Volume (OBV) line shows weakness from January but now shows some steadiness and hopefully a reversal to the upside.
The Moving Average Convergence Divergence (MACD) oscillator has made higher lows as prices made equal lows in May and June. This is a bullish divergence and can foreshadow higher prices ahead. The MACD oscillator is not far below the zero line and we could see a buy signal soon.