In today’s update, I share why Old Republic Intl (ORI) is a solid long trade idea. It’s a solid company with a strong yearly growth record. It has recently consolidated, and is now breaking out. See more in today’s video.
From the charts…
The monthly ORI chart shows a solid foundation of growth for the past 7 yearn. It has good earnings, an attractive P/E ratio, and pays 3.5% dividends. But the best part is the daily chart.
The daily ORI chart shows the stock has just broken from a solid foundation of consolidation, with very good volume. A “double-dot” Roadkill signal confirms this move as a low risk, high probability trade idea. Historically, each break from consolidation has given about 10% price increase, on average. That’s what I expect from this trade idea.
The Hawkeye Perspective
When you see multiple-timeframe alignment of volume and momentum, expect high probability and low risk entries. ORI is setup today to deliver, and I will be looking to take advantage of this setup.
We teach this and other strategies in our upcoming live seminar, called Project V-Swarm Live 2020. We have invited special guests to join us as well, and I’m super excited about what they will bring. Here is the link for more information
Learn to trade the Hawkeye way.
Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.