A wedge formed on the weekly timeframe. At the moment, the price has broken through its upper limit and is ready to go higher. Growth can be quite good.
ODP has been an instrument for speculation for a while and shown its liquidity is good enough to keep the box stores open. We should see a TP of 6 dollars with in the next year and 14 dollars with in 2 if all goes well in 3 years it will be pushing its res from 2008, we could speculate to the 60 dollar range.
4% YIELD APPEALING
Office Depot, Inc. engages in the provision of office products, services, supplies, and technology solutions. It operates through the following segments: Retail, Business Solutions, and CompuCom. The Retail segment involves in selling merchandise through chain of office supply stores and offers products and services in the categories of...
The sirens rang when the dreaded earning pre announcement painted a gloomy picture for Office Depot, There is no evidence for along on this apart from the .65 fib retrace is holding, its a short all day on a break below $2.60
Shares of ODP have performed well in the past several months, as turnaround efforts seem to be achieving favorable outcomes.
Even better, they are paying a 3.34% dividend while you wait, and the payout ratio of 52.6% seems manageable to maintain, and barring a plummeting of sales, seems safe to me. They're also cheap at 8x 2018 estimated earnings per...
Office Depot (ODP) opportunity:
Stochastic rebound at level 20.
Doji formed on 2018-09-13.
Stock strenght is good.
My suggestion is a buy stop at 3.23 and follow the trade untill stochastic goes in overbought area.
