ODP - Office Depot Inc. (NYSE Stock)

[BadThad]

Shares dropped significantly today, some $3.04 around 15% on news of delayed financials. Could be a great time to buy:

ODP on Google Finanace (http://finance.google.com/finance?q=NYSE:ODP&source=finance)

CHART (http://stockcharts.com/h-sc/ui?s=ODP&p=D&b=5&g=0&id=p22919068748)

Today's Price: $17.34

Sure looks like a fire sale to me! :)

[BadThad]

Bolstered with an S&P downgrade:

S&P DOWNGRADES SHARES OF OFFICE DEPOT TO HOLD FROM BUY

ODP; $16.90

The company is delaying release of Q3 results due to a review related to the timing and recognition of vendor program funds. The magnitude that this issue may have on future earnings and on potential restatements of previous results is unclear. With Office Depot already facing a challenging business environment due to its large exposure to California and Florida markets, we would not add to positions. We are lowering our discounted cash-flow-based target price to $22 from $32, given our assessment that the shares warrant a higher equity risk premium. /M. Souers

[lovemoney]

Broke out of a 3 month sideways pattern and popped it's head today on good volume.

http://stockcharts.com/h-sc/ui?s=ODP&p=D&b=4&g=0&id=p44394596498

[greencat]

ODP is looking good for a breakout

[greencat]

Office Depot ODP has an inverted head and shoulders pattern that has broke the neckline. Very bullish.

1st target area is $5.84 2nd target is $8.95 support $4.29

ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP loks like it finally ready to make the move out of the inverted head and shoulders pattern.

Office Depot ODP has an inverted head and shoulders pattern that has broke the neckline. Very bullish.

1st target area is $5.84 2nd target is $8.95 support $4.29

ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

OSP here she goes. Breaking out..


1st target area is $5.84 2nd target is $8.95 support $4.29

ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP hits first target...

OSP here she goes. Breaking out..


1st target area is $5.84 2nd target is $8.95 support $4.29

ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP hits first target...

ODP will most likely complete the cup pattern..

[greencat]

ODP has a flag pattern that it may move out and make a nice move. Top trendline is a technical buy.

ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=304652194
http://www3.stockfetcher.com/sfchart/2139145507.png

[greencat]

ODP has made a higher low and I expect it to make a higher high and hit the second sell zone.

ODP has a flag pattern that it may move out and make a nice move. Top trendline is a technical buy.

ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=304652194
http://www3.stockfetcher.com/sfchart/2139145507.png

[greencat]

ODP has an abandoned baby candlestick formation. This is a reversal candlestick. Ususally for at least a nice bounce.



The abandoned baby is a rapid shift in momentum from the bulls to the bears or visa versa and typically catches the other side off guard. Rallies off an abandoned baby bottom can be very rapid as short sellers will be forced to cover fast. Conversely, declines after the abandoned baby top can be just as fast as many longs sell their positions, aiming to keep most of their profits.

This makes this pattern very unique, rare, and reliable at the same time. While the formation has baby in its name, just as the concealing baby swallow formation, it has more in common with the island reversal pattern.



ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP has an inverted head and shoulders pattern. Bullish reversal..


ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP has a very good chance of completing a cup pattern at $4.00


ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP making the move towards the cup pattern.
ODP has a very good chance of completing a cup pattern at $4.00


ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP headed to first target. Fundementals here are shaky, therefore making this strictly a short term trade unless other events occur that would suggest that ODP has gotten stronger.

Though target is $4.00 I would generally sell just under target. Always check the fundementals of a stock. If the fundementals are not pristine then set targets just under the expected resistance.

ODP has a very good chance of completing a cup pattern at $4.00


ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP has a very good chance of completing a cup pattern at $4.00


ODP with a strong gap this morning. Working its way to the cup pattern.


ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[greencat]

ODP has a big move that made a small hadle to the cup pattern. This is not an entry point for me. Will have to wait for a pullback and see what we have..


ODP Chart
http://www.profitspi.com/stock-chart-str.aspx?id=ODP&ca=1836933961

[Jhon Kumar]

With Office Depot already facing a challenging business environment due to its large exposure to California and Florida markets, we would not add to positions.