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Office Depot, Inc. Message Board

  • johnalterman johnalterman Nov 13, 2012 10:41 PM Flag

    Bullish Run Above $3.04 and Holds $3.00 Look Out

    Today’s move tested and broke above the previous igniting bar of $3.04 but failed to hold above the psychologically important $3.00 level, the daily chart is making a serious of higher lows as the 50 MA comes closer to crossing the flat 200 MA and making what some call the Iron Cross. Relative strength is extremely strong, if we can get some help from the market you should see $3.50 in a blink of an eye.

    Bottom line, the pullback after the initial daily igniting bar should have been used as a way to add more shares, I definitely did. Your stop should be placed below the hourly pivot of $2.71. The next move is very close but we need a trigger above $3.05 and a hold above $3.00. I'm looking to add 1 more lot and to be greedy. Good luck

    DON'T HATE THE PLAYER, HATE THE GAME...

    Sentiment: Hold

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