Office Depot (ODP) NewsBite - ODP Hits 52-Week High

Posted: Wednesday, October 07, 2009 12:48 PM EDT

Office Depot (NYSE: ODP) hit a new 52-Week high of $6.97 so far today. Currently the stock is down $0.01 (-0.14%) to $6.88 on 3,001,266 shares traded. Today's high is up $6.38 from a 52-Week low of $0.59. Office Depot stock has been showing support around $6.24 and resistance in the $7.24 range. Technical indicators for the stock are bearish and S&P gives ODP a negative 2 STARS (out of 5) sell ranking. Office Depot traded up to a new 52 week high today following news yesterday that retail sales last week were up 0.3% compared to last year. We will just watch this one for now. There are no hedged trades we like the look of for ODP. [ABR-Seven Summits Strategic Investments NewsBite]

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