Office Depot Inc. Common Stoc $ODP Technical Update
The Office Depot Inc. Common Stoc (NYSE: ODP) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for ODP, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
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Long Term Trading Plans for ODP
June 27, 2019, 12:00 am ET
The Technical Summary and Trading Plans for ODP help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this ODP Report.
ODP - (Long) Support Plan
The technical summary data tells us to buy ODP near 1.43 with an upside target of 2.37. This data also tells us to set a stop loss @ 1.17 to protect against excessive loss in case the stock begins to move against the trade. 1.43 is the first level of support below 1.86 , and by rule, any test of support is a buy signal. In this case, support 1.43 would be being tested, so a buy signal would exist.
ODP - (Short) Resistance Plan
The technical summary data is suggesting a short of ODP as it gets near 2.37 with a downside target of 1.43. We should have a stop loss in place at 2.63 though. 2.37 is the first level of resistance above 1.86, and by rule, any test of resistance is a short signal. In this case, if resistance 2.37 is being tested, so a short signal would exist.