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Look for Shares of Office Depot Inc to Potentially Rebound after Yesterday's 3.82% Sell Off

By David Diaz

Office Depot Inc (NYSE:ODP) traded in a range yesterday that spanned from a low of $4.27 to a high of $4.52. Yesterday, the shares fell 3.8%, which took the trading range below the 3-day low of $4.43 on volume of 5.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Office Depot Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Office Depot Inc in search of a potential trend change.

Over the past year, Office Depot Inc has traded in a range of $3.01 to $6.25 and is now at $4.28, 42% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.7%.

Keywords: rebounders office depot inc

Ticker(s): ODP