Office Depot, Inc. (ODP): Detailed technical analysis and trading indicators

Office Depot, Inc. (NASDAQ:ODP) gained 1.36% in yesterday’s session, going up from its prior closing price of $3.69 to $3.74. The price has fallen in 6 of the last 10 days and is down by -17.98% over the same course of time. Trading activity decreased by -1.44 million shares, and in total, 5.72 M shares exchanged hands for about $21.39 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.

Inside ODP’s Recent Trend

Office Depot, Inc. (ODP) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -31.27% over the course of a quarter and, with 90% chance the price will be floating in the range of $1.93 and $3.18 in this timeframe.

Office Depot, Inc. Technical Signals

ODP has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $3.79 and $4.26. A buy signal will be generated if it crosses above any of these levels.

Office Depot, Inc. (NASDAQ:ODP) Support And Resistance Levels

Office Depot, Inc. (ODP) recorded volume accumulation so there will probably be a surplus of buyers at $3.69. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $3.78, $4.45 and $4.53.

Accumulated volume is going to prevent the price from rising further at $3.78 and this action will lead the price to take a temporary pause or stay muted for a few days.

Office Depot, Inc. (ODP) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.10 between high and low, or 2.72%. The average volatility for the past week stood at 3.85%.

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