For today's chart we've chosen to take a look at Office Depot Inc.
) because the bears have pushed the price below a long-term trendline
. Many traders may be tempted to buy the stock after the sharp decline, but the above-average volume and the broken trendline are suggesting that now may not be the best time. The spike in volume is a clear signal of the heightened volatility
and it will be used by technical traders to suggest that the downward momentum has the fuel it needs to continue. We'll keep a bearish outlook on this stock until the price closes back above the ascending trendline (currently near $20).