THE ODP CORP. - Weekly - Technical analysis published on 01/04/2024 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 47.41 USD
My targets
61.86 USD (+14.56%)
66.65 USD (+23.43%)
My analysis
The bullish trend is currently very strong on THE ODP CORP.. As long as the price remains above the support at 47.41 USD, you could try to benefit from the boom. The first bullish objective is located at 61.86 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 66.65 USD as an objective. Crossing it would then enable buyers to target 77.06 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.8
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This analysis was given by ardacura__. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The THE ODP CORP. price is 54.00 USD. Over 5 days, this instrument lost -5.50% with the lowest point at 53.87 USD and the highest point at 56.80 USD. The deviation from the price is +0.24% for the low point and -4.93% for the high point.53.87
56.80
54.00
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Weekly of this THE ODP CORP. chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 15 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Black evening star
Type : Bearish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 43.22 | 47.41 | 52.90 | 54.00 | 66.65 | 77.06 | 83.35 |
| Change (%) | -19.96% | -12.20% | -2.04% | - | +23.43% | +42.70% | +54.35% |
| Change | -10.78 | -6.59 | -1.10 | - | +12.65 | +23.06 | +29.35 |
| Level | Intermediate | Major | Major | - | Minor | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 51.68 | 52.77 | 53.39 | 54.48 | 55.10 | 56.19 | 56.81 |
| Camarilla | 53.53 | 53.69 | 53.84 | 54.00 | 54.16 | 54.31 | 54.47 |
| Woodie | 51.44 | 52.65 | 53.15 | 54.36 | 54.86 | 56.07 | 56.57 |
| Fibonacci | 52.77 | 53.43 | 53.83 | 54.48 | 55.14 | 55.54 | 56.19 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52.04 | 53.97 | 55.13 | 57.06 | 58.22 | 60.15 | 61.31 |
| Camarilla | 55.45 | 55.73 | 56.02 | 56.30 | 56.58 | 56.87 | 57.15 |
| Woodie | 51.67 | 53.78 | 54.76 | 56.87 | 57.85 | 59.96 | 60.94 |
| Fibonacci | 53.97 | 55.15 | 55.88 | 57.06 | 58.24 | 58.97 | 60.15 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 33.86 | 39.42 | 47.86 | 53.42 | 61.86 | 67.42 | 75.86 |
| Camarilla | 52.45 | 53.73 | 55.02 | 56.30 | 57.58 | 58.87 | 60.15 |
| Woodie | 35.30 | 40.14 | 49.30 | 54.14 | 63.30 | 68.14 | 77.30 |
| Fibonacci | 39.42 | 44.77 | 48.07 | 53.42 | 58.77 | 62.07 | 67.42 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 61.02 | |
| MACD (12,26,9): | 1.9900 | |
| Directional Movement: | 13.84 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 51.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 47.35 | |
| Elder Ray (13): | 5.07 | |
| Super Trend (3,10): | 47.22 | |
| Zig ZAG (10): | 54.00 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 83.31 | |
| TEMA (21): | 52.68 | |
| Williams %R (14): | -31.03 | |
| Chande Momentum Oscillator (20): | 10.55 | |
| Repulse (5,40,3): | 0.4700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2800 | |
| Courbe Coppock: | 22.73 |
| MA7: | 56.66 | |
| MA20: | 52.17 | |
| MA50: | 48.55 | |
| MA100: | 47.74 | |
| MAexp7: | 52.18 | |
| MAexp20: | 49.13 | |
| MAexp50: | 46.91 | |
| MAexp100: | 44.39 | |
| Price / MA7: | -4.69% | |
| Price / MA20: | +3.51% | |
| Price / MA50: | +11.23% | |
| Price / MA100: | +13.11% | |
| Price / MAexp7: | +3.49% | |
| Price / MAexp20: | +9.91% | |
| Price / MAexp50: | +15.11% | |
| Price / MAexp100: | +21.65% |
Quotes :
-
15 min delayed data
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NASDAQ Stocks
News
The last news published on THE ODP CORP. at the time of the generation of this analysis was as follows:
- ATFX Acquires Khwezi Financial Services, a licensed ODP in South Africa
- ODP Business Solutions Releases 2023 Diverse Supplier Catalog
- The ODP Corporation Announces Second Quarter 2023 Results
- The ODP Corporation to Announce Second Quarter 2023 Results Wednesday, August 9, 2023
- The ODP Corporation Celebrates Sixth Year of its Start Proud! Program, Donates $2.5 Million in Back-to-School Essentials for Title I Schools Nationwide
This member declared not having a position on this financial instrument or a related financial instrument.
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