Old National stock consolidates above key averages as short-term bullish momentum holds

Traders Union
All News
Companies
Old National gains 0.77% today

Highlights

ONB is trading above key moving averages, indicating sustained bullish momentum across all observed timeframes.
Momentum signals are mildly positive with MACD and RSI supporting upside, but trend strength remains weak with a neutral ADX.
ONB is expected to consolidate between $24.24 and $24.75, with breakout potential above $24.86 and strong support at $24.28.

Bullish alignment across moving averages as key support clusters beneath price

ONB is trading at $24.80, above the MA-20 ($24.20), MA-50 ($23.95), and MA-200 ($22.80), which confirms bullish momentum across short, medium, and long-term time horizons. The Ichimoku Kijun is at $24.28, establishing immediate support just below the current price. Near-term support is at the Ichimoku Kijun ($24.28), with key support at MA-50 ($23.95); immediate resistance is at MA-5 ($24.86), and the cluster of MA-10 ($24.54) sits beneath current levels, reinforcing support structures.

Mixed momentum amid weak trend conviction and post-pullback price consolidation

Momentum signals are mixed on D1: MACD indicates a buy while ADX is neutral and weak at 12.41, suggesting the trend lacks strong conviction. RSI (57.73) and CCI (96.16) both show mild bullish momentum without clear overbought extremes, while Stoch RSI is neutral overall but reveals some overbought readings intraday. BBP (0.57, overbought) points to buyer domination in intraday action, supported by a bullish direction in the Awesome Oscillator. ONB has slipped $0.34 (1.35%) from the previous week's close of $25.14. The current price sits in the middle portion of the weekly trading range, with weekly volatility standing at 4.64%. Price action is consolidating after a pullback from the recent high.

Upside favored as support holds and bullish signals dominate weekly outlook

For the coming week, ONB is expected to trade in the $24.24–$24.75 range, keeping it above the 52-week low ($19.39) but below the annual high ($26.16). With buy signals present on the MA-50, RSI, and MACD on W1, while ADX remains neutral, the probability of a price increase is high (more than 80%), making a decline much less likely. The baseline outlook is for ONB to remain in a sideways corridor near current levels. A bullish scenario would see a sustained breakout above $24.86 (nearest resistance), while a bearish scenario would require a decisive move below $24.28 (Kijun) and further to $23.95 (MA-50). Overall, price activity is well-supported above key moving averages, suggesting resilience unless market conditions shift sharply.

Loading...

The tweet was deleted by the author.

But we saved everything 🙂.

Previously it was reported that Old National Bancorp was exhibiting bullish momentum, with technical indicators suggesting continued strength in buyer activity. This article provides an updated perspective on the prevailing scenario, highlighting the importance of monitoring current support levels as a gauge for sustained upward movement.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.