A technical analysis of OLD REPUBLIC INTL CORP.

Our stockscreener has identified a possible breakout setup on OLD REPUBLIC INTL CORP (NYSE:ORI). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:ORI for potential opportunities.

Insights from Technical Analysis

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall ORI gets a technical rating of 9 out of 10. Both in the recent history as in the last year, ORI has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, ORI did better than 87% of all other stocks. We also observe that the gains produced by ORI over the past year are nicely spread over this period.
• ORI is part of the Insurance industry. There are 142 other stocks in this industry. ORI outperforms 74% of them.
• ORI is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ORI is performing more or less in line with the market.
• In the last month ORI has a been trading in the 26.40 - 28.23 range, which is quite wide. It is currently trading near the high of this range.

For an up to date full technical analysis you can check the technical report of ORI

How do we evaluate the setup for NYSE:ORI?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:ORI has a 9 as its setup rating:

Besides having an excellent technical rating, ORI also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 28.17. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 27.52, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NYSE:ORI and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.