Old Dominion Freight Line (ODFL) NewsBite - ODFL Downgraded By BB&T Capital Markets

Posted: Wednesday, February 25, 2009 1:24 PM EDT

Old Dominion Freight Line (ODFL) was downgraded today by analysts at BB&T Capital Markets and the stock is now at $22.44, down $1.84 (-7.58%) on volume of 837,062 shares traded. The analysts downgraded the stock to "Hold" from "Buy." Over the last 52 weeks the stock has ranged from a low of $18.47 to a high of $40.09. Old Dominion Freight Line stock has been showing support around $22.71 and resistance in the $25.31 range. Technical indicators for the stock are bullish and S&P gives ODFL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on ODFL the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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