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Is Office Depot (ODP) Ready to Breakout?

Zacks Equity Research

Office Depot Inc (ODP) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for ODP broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 8.8% in the past four weeks. Plus, the company currently has a Zacks Rank 5(Strong Sell) meaning that now could definitely be the time to get out of this potentially in-trouble stock.

OFFICE DEPOT INC (ODP): Free Stock Analysis Report

Zacks Investment Research