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Actionable news in ODP: Office Depot, Inc.,

Have Staples and Office Depot Plunged Low Enough to Buy?

News that U.S. District Judge Emmet Sullivan was ruling to block the merger between office supply companies Office Depot (ODP - Get Report) and Staples (SPLS - Get Report) is hitting both stocks hard today.The court ruled that combining Office Depot and Staples would harm competition, leading to higher prices for buyers.

Has the selling created a buying opportunity in either stock? Let's turn to the charts.

Office Depot

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  • Nearest Resistance: $5
  • Nearest Support: N/A
  • Catalyst: Blocked Merger

Office Depotis getting pummeled this afternoon, down more than 39% as of this writing. Staples had planned on paying...