For today's chart we've chosen to take a look at Office Depot Inc. (NYSE:ODP) 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).

You May Also Like

Related Analysis
  1. Personal Finance

    The Best Industries for Interns in 2015

  2. Fundamental Analysis

    Who are Tesla's (TSLA) main suppliers?

  3. Active Trading Fundamentals

    Which oil and gas stocks pay the highest dividends?

  4. Stock Analysis

    5 Things Galena Biopharma Wants You to Know

  5. Stock Analysis

    The 3 Key Numbers PotashCorp Investors Must Know

Trading Center