Old Republic International Corporation Stock Forecast

Old Republic International Corporation stock price ended at $30.31 on Tuesday, after gaining 0.331%.
(Updated on Apr 23, 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $29.42 and $29.75. 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 5.83%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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

On the downside, the stock finds support just below today's level from accumulated volume at $28.39 and $27.99. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Old Republic International Corporation finds support just below today's level at $28.39. If this is broken, then the next support from accumulated volume will be at $27.99 and $27.54.

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 $0.285 (0.94%) between high and low. For the last week, the stock has had daily average volatility of 1.61%.

Our recommended stop-loss: $29.01 (-4.27%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (ORI) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Old Republic International Corporation to open at $30.33, and during the day (based on 14 day Average True Range), to move between $29.82 and $30.80, which gives a possible trading interval of +/-$0.491 (+/-1.62%) 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 3.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $30.72 (1.35%) than the support at $28.39 (6.33%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Old Republic International Corporation stock A Buy?

Old Republic International Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.233 Hold/Accumulate Unchanged

Predicted Opening Price for Old Republic International Corporation of Wednesday, April 24, 2024

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