RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ODP
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Office Depot stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)

Buy candidate since Mar 28, 2024 PDF

The Office Depot stock price gained 1.22% on the last trading day (Thursday, 28th Mar 2024), rising from $52.41 to $53.05. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.96% from a day low at $52.51 to a day high of $53.54. The price has risen in 8 of the last 10 days and is up by 5.3% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 96 thousand more shares were traded than the day before. In total, 326 thousand shares were bought and sold for approximately $17.28 million.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Office Depot stock with a 90% probability to be traded between $48.93 and $55.56 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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ODP Signals & Forecast

Mostly positive signals in the chart today. The Office Depot stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $52.01 and $52.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 5.82%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Buy
Special Signal Notification

Double Bottom Formation

Double Bottom Formation A buy signal from a double bottom formation was found on Monday, March 18, 2024 and based on theory for this formation the price should go up by 8.16% to $57.38 within 42 trading days since signal was issued (Monday, April 01, 2024).

Support, Risk & Stop-loss for Office Depot stock

Office Depot finds support from accumulated volume at $52.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.03 between high and low, or 1.96%. For the last week, the stock has had daily average volatility of 2.10%.

Our recommended stop-loss: $50.71 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (ODP) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Office Depot to open at $53.03, and during the day (based on 14 day Average True Range), to move between $51.70 and $54.40, which gives a possible trading interval of +/-$1.35 (+/-2.55%) up or down from last closing price. If Office Depot takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $52.30 (1.41%) than the resistance at $54.41 (2.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Office Depot stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Office Depot stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.543 Buy Candidate Upgraded

Predicted Opening Price for Office Depot of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$53.03 ( 0.0314%) $53.05

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for ODP

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 54.06 1.91 %
R2 53.67 1.17 %
R1 53.43 0.710 %
Current price: 53.05
Support S1 52.64 -0.773 %
S2 52.40 -1.23 %
S3 52.00 -1.97 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 56.48 6.47 %
R2 54.96 3.60 %
R1 54.41 2.56 %
Current price 53.05
Support S1 52.30 -1.41%
S2 51.49 -2.94%
S3 51.18 -3.52%

ODP Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 04, 2020 Feb 28, 2020 Jul 01, 2020 $0.250 1.10%
2 Nov 06, 2019 Nov 21, 2019 Dec 13, 2019 $0.250 1.02%
3 Aug 07, 2019 Aug 22, 2019 Sep 13, 2019 $0.250 1.49%
4 May 08, 2019 May 23, 2019 Jun 14, 2019 $0.250 1.32%
5 Feb 05, 2019 Feb 28, 2019 Mar 15, 2019 $0.250 0.744%

FAQ

What is the symbol for Office Depot Stock and on which exchange is it traded?
The symbol for Office Depot is ODP and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Office Depot Stock?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Office Depot stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Office Depot Stock?
Office Depot Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Office Depot Stock.

What's the current price of Office Depot Stock?
As of the end of day on the 2024-03-28, the price of an Office Depot (ODP) share was $53.05.

What is the 52-week high and low for Office Depot Stock?
The 52-week high for Office Depot Stock is $58.98 and the 52-week low is $39.36.

What is the market capitalization of Office Depot Stock?
As of the 2024-03-28, the market capitalization of Office Depot is 1.943B.

When is the next earnings date for Office Depot?
The upcoming earnings date for Office Depot is May 08, 2024.
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About Office Depot

Office Depot The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses. The company operates in two divisions, Business Solutions and Retail. The Business Solutions division offers office supply products and services, cleaning and breakroom supplies, technology services, copy and print services, and office furniture products and services through sales forces, ... ODP Profile

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