Old National Bancorp (ONB) has maintained an uptrend over the longer term, with the stock positioned above its major simple and exponential moving averages. The short-term trend shows consolidation following a strong monthly advance of over 10%, forming a potential bull flag pattern. This setup suggests continuation potential if support holds, though a recent pivot top has introduced mild caution in the very short term. The stock remains in the upper portion of a short-term falling trend channel but with buy signals dominating from moving average alignments.
Key support zones cluster around 23.34-23.54, backed by accumulated volume and Fibonacci levels, with deeper support at 23.10 and 22.57. Resistance looms immediately at 24.02-24.05, coinciding with pivot points and recent highs, followed by 24.13 and higher at 25.88. These levels align with classic pivot calculations, where the central pivot sits near 23.92, reinforcing the consolidation range observed in recent trading.
The Relative Strength Index (RSI) at 55.91-59.74 reflects neutral conditions, neither overbought nor oversold, allowing room for upside momentum without immediate reversal risks. MACD (12,26) registers a modest positive 0.02-0.05, supporting buy signals, though some readings note a declining histogram. Other oscillators like Stochastic (62.89 buy) and ADX (28.55 buy) bolster the bullish bias, while Williams %R at -19 indicates overbought pockets near recent peaks.
All major moving averages signal buy, with the price trading above the 5-day (23.95), 20-day (23.77), 50-day (23.82-23.91), 100-day (23.53-23.72), and 200-day (22.79-23.34) levels. The short-term averages remain above longer-term ones, confirming the uptrend structure. SMA20 is rising positively, while SMA50 shows a mild decline but price dominance above it.
Trading volume has risen alongside price advances, with recent sessions exceeding the average of 3.3 million shares, signaling conviction in the upmove. A 35% volume increase supports the bull flag consolidation, indicating healthy participation without excessive speculation.
Tickeron’s AI Daily Buy/Sell Signals leverage artificial intelligence to scrutinize vast arrays of market data, technical indicators, and historical price patterns for ONB and other stocks and ETFs. These signals arise from advanced trend recognition algorithms and pattern matching against proven behaviors, delivering actionable buy or sell recommendations. Traders rely on them to pinpoint optimal entry and exit points, validate ongoing trends, and refine decision-making processes amid volatile conditions. Explore these AI-powered insights to enhance your technical trading strategy.
Traders eye a potential breakout above 24.02-24.05 resistance for uptrend confirmation, targeting higher levels near 24.13 or 25.88. A hold above support at 23.34-23.54 preserves the bull flag structure, while a breakdown could test 23.10 or 22.57. Monitor RSI for sustained neutrality, MACD crossovers, and volume surges to gauge momentum shifts. Rising moving average alignments favor bulls, but pivot top risks warrant caution on pullbacks.
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full Disclaimers and Limitations.
A.I.dvisor indicates that over the last year, ONB has been closely correlated with ASB. These tickers have moved in lockstep 91% of the time. This A.I.-generated data suggests there is a high statistical probability that if ONB jumps, then ASB could also see price increases.
| Ticker / NAME | Correlation To ONB | 1D Price Change % | ||
|---|---|---|---|---|
| ONB | 100% | +1.82% | ||
| ASB - ONB | 91% Closely correlated | +2.07% | ||
| FNB - ONB | 90% Closely correlated | +1.91% | ||
| ZION - ONB | 89% Closely correlated | +1.22% | ||
| FULT - ONB | 88% Closely correlated | +1.57% | ||
| UMBF - ONB | 88% Closely correlated | +2.16% | ||
More | ||||
| Ticker / NAME | Correlation To ONB | 1D Price Change % |
|---|---|---|
| ONB | 100% | +1.82% |
| Banks category (435 stocks) | 88% Closely correlated | -0.39% |
| Regional Banks category (362 stocks) | 87% Closely correlated | -0.74% |
| ONB category (3 stocks) | 86% Closely correlated | -0.86% |