ORI - How Stock Traders Daily uses Price Action in Old Republic to Define Opportunity and Risk
Both opportunity and risk assessments can be drawn from looking at the price action in Old Republic (NYSE: ORI). This is a practice commonly referred to as reading the charts. The summary data for ORI below demonstrates this, and there are trading plans that help investors understand how to utilize the data too. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | |||
Neutral | |||
Strong | |||
Strong | |||
P1 | |||
0 | |||
0 | |||
16.72 | |||
P2 | |||
19.37 | |||
19.60 | |||
18.32 | |||
P3 | |||
20.10 | |||
20.27 | |||
20.08 |
Long Term Trading Plans for ORI
February 28, 2021, 6:30 pm ET
The Technical Summary and Trading Plans for ORI help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this ORI Report.
ORI - (Long) Support Plan
The technical summary data tells us to buy ORI near 18.32 with an upside target of 20.08. This data also tells us to set a stop loss @ 18.27 to protect against excessive loss in case the stock begins to move against the trade. 18.32 is the first level of support below 19.33 , and by rule, any test of support is a buy signal. In this case, support 18.32 is being tested, a buy signal would exist.
ORI - (Short) Resistance Plan
The technical summary data is suggesting a short of ORI as it gets near 20.08 with a downside target of 18.32. We should have a stop loss in place at 20.14though. 20.08 is the first level of resistance above 19.33, and by rule, any test of resistance is a short signal. In this case, if resistance 20.08 is being tested, a short signal would exist.