Old National stock rises 1.70 percent as Old National promotes responsible debt use

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Old National up 1.70% today

Highlights

ONB shows sustained bullish momentum with price holding above key support and trading near weekly highs at $24.19.
Technical indicators broadly point to continued strength, though some signals caution the uptrend currently lacks strong conviction.
ONB is expected to consolidate in the $23.80–$24.18 range, with upside breakout targets at $24.22 and $24.60 if resistance is cleared.

Bullish trend confirmed as price holds above clustered key supports

ONB is trading at $24.19, above the MA-20 at $23.77, the MA-50 at $23.55, and the MA-200 at $22.72. This configuration confirms strong bullish momentum across short-, medium-, and long-term trends. The Ichimoku Kijun at $23.91 now acts as immediate support. Near-term support levels are clustered around the Kijun and MA-20 ($23.77–$23.91), with key support at MA-50 ($23.55). Near-term resistance emerges at the recent intraday high of $24.22, while key resistance is defined by the 52-week high ($26.16), though this is further afield.

Mixed momentum signals as price consolidates near weekly range highs

Momentum signals are mixed: MACD on D1 suggests strong bullishness, while ADX remains weak at 8.95, indicating the trend lacks conviction. RSI on D1 is moderately bullish at 50.50, but Stoch RSI points to a sell signal, and CCI sits neutral. The BBP at 0.42 shows buyers hold the upper hand intraday. The Awesome Oscillator remains neutral, offering little confirmation of the current move. In today's session, ONB has risen 1.7%, pushing sharply higher within the weekly range. Over the past week, ONB is trading at $24.19, up from a previous close of $23.96, reflecting a 0.89% weekly gain. The price sits at the top of the weekly range ($23.24–$24.22), with weekly volatility at 4.22%. The tone for the week is one of consolidation near resistance.

Upside bias prevails as indicators favor limited downside risk

For the coming week, the expected trading range is $23.80–$24.18, keeping ONB anchored close to its current levels and well above the 52-week low ($19.39) but still below the year’s high ($26.16). Based on W1 indicator signals—MACD, RSI, and all key SMAs pointing to buy—there is a very high probability (more than 80%) of continued upward movement, making downside much less likely. The baseline scenario is for ONB to continue consolidating within the $23.80–$24.18 corridor. A bullish scenario would see a push above $24.22 toward $24.60 and possibly test higher resistance near the yearly highs, while a bearish scenario involves a drop below $23.80, with further support at $23.55.

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In a recent review, analysts highlighted Old National’s resilient bullish momentum and strength above key technical support levels. This article provides an updated perspective, confirming that the prevailing scenario remains rangebound, with investors advised to closely monitor for a breakout that could signal renewed directional conviction.

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