Old Republic International Corporation Stock Forecast

Stronger technical forecast for Old Republic International Corporation stock price after Friday trading.
(Updated on Apr 26, 2024)

ORI Signals & Forecast

The Old Republic International Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $29.98 and $29.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.20%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Old Republic International Corporation stock

Old Republic International Corporation finds support from accumulated volume at $30.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.98 (3.34%) between high and low. For the last week, the stock has had daily average volatility of 2.83%.

Our recommended stop-loss: $28.84 (-4.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (ORI) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Old Republic International Corporation to open at $30.01, and during the day (based on 14 day Average True Range), to move between $29.52 and $30.74, which gives a possible trading interval of +/-$0.610 (+/-2.03%) up or down from last closing price. If Old Republic International Corporation takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $30.02 (0.37%) than the resistance at $30.30 (0.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Old Republic International Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Old Republic International Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.769 Buy Candidate Upgraded

Predicted Opening Price for Old Republic International Corporation of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.