Get Stock Quote Here Staples, Inc. (SPLS) is a large United States office supply chain store, with over 2,000 stores worldwide in 26 countries. Headquartered in Framingham, Massachusetts, the company has retail stores serving customers under its original name in Australia, Austria, Brazil, China, Finland, France, Germany, India, Italy, Norway, Portugal, the United Kingdom, and the United States, while operating subsidiaries in Argentina as Officenet-Staples, in Netherlands as Staples Office Centre, in Canada as Staples Canada (Bureau en Gros in Quebec), and in Italy as Mondoffice. Staples also does business exclusively with enterprises in the United States, Canada and multiple European countries as Staples Advantage. Staples sells supplies, office machines, promotional products, furniture, technology, and business services both in stores and online. The company opened its first store in Brighton, Massachusetts on May 1, 1986.
There are quite a few indicators that are leading me to believe this may be a good short opportunity. The finviz chart above shows the stock currently sitting right at resistance. 200MA is getting close to closing in and creating more resistance. The stock is getting pretty close to being overbought if you look above the chart below and see the RSI approaching the 70's. The MACD below the chart appears like it is about to crossover as well indicating a sell. This one could be headed down to $9.50 or possibly down to $8.
Traders on edge as Staples-Office Depot deal decision looms NEW YORK (Reuters) - Options traders are bracing for wild gyrations in the shares of Staples Inc and Office Depot Inc as the companies await a ruling that could scuttle their pending merger. Staples, the largest U.S. office supplies retailer, agreed to buy the second-biggest player, Office Depot, in a $6.3 billion deal in February of 2015, but the U.S. Federal Trade Commission, which regulates competition, sued in December to block the merger. Read full article here: http://finance.yahoo.com/news/traders-edge-staples-office-depot-200954098.html
I might have to just close my short position on this on Monday and lock up profits. Seems like this stock is extremely volatile and could jump either way.
SPLS: Friday looked like ending action of the short-term downtrend. After breaking down out of that little trading range 2-1/2 weeks ago the volume trended lower indicating the supply of willing sellers was drying up. Then it did a hypodermic this past Friday closing high-range on twice the volume......big buyers rushing in.
Staples and Office Depot call off merger Office Depot and Staples called off their plans to merge, triggering a trading halt for the companies' stocks Tuesday. Read full article here: http://money.cnn.com/2016/05/10/news/companies/office-depot-staples-merger/
Reported before open today (5/18/16) Earnings: EPS $0.17 Revenue $5.101B Estimates: EPS $0.16 Revenue $5.080B Down 0.91% today so far
I have no idea. Most office products you either order online now, or buy when you're in a more "all-inclusive" store like a Walmart, Target, Meijers, etc. At least that's how it seems to me.
All I know is shorting this from mid april until mid may made me over 22%, and could be 27% if I was still holding the short position
My Opinion & Thought on SPLS Staples with Weekly and Daily chart work. Can there be a possible Breakout today from 6 month resistance ?
Considering another short here. I've shorted this before for a 23% gain. Sitting right at a resistance line + the 50MA. A few bad days in the market could push this down below both moving averages and back down to $8.50, then $8, and potentially down to $7.25 or so.
Maybe, maybe not. Consider looking back further into the weekly chart. The week of Dec 7, 2015 it fell on heavy volume but then the week of Dec 14, 2015 it had no follow thru on similar high volume. That was Preliminary Support (PS) by the big interests at a low of 9.03 and a change of character from the down trend. They let it go under that price in the ensuing trading range so they could accumulate more. In October they drove it down to 7.24 until they couldn't find any more sellers and then it sprung back up on heavy volume. Which brings us to the current dip, which again is showing that supply is not present. This could be the Last Point of Support; a buy, imo. Thanks for pointing it out. Weekly Sticks:
Would have made a good scalp short today. I bought it on my coffee break at $9.20 and was glad to see it held the P.S. at $9.03 at the close with very little supply (volume) today.
Closed Fryday at $9.16. Tentative Price Objective = 17.25. $0.25-box by 3-box-reversal Point & Figure: ***** Note also how small the price range is relative to that large red volume....that and the time it took, and that much of that time was spent under the Preliminary Support line, leads me to a conclusion of accumulation. I realize the news has not been good for this stock, but if I were an insider or a big-money guy trying to buy it cheap, I'd do my best to keep the news bad or at least not release any good news until I had bought all that I could. Just following the money; it's the cowboy way.*****
Well, they can't seem to take it down; appears to have found support @8.86 vs 8.82. Still holding long. Currently paying a 5 1/4 % dividend. ER is on March 3rd. Weekly:
Genuinely curious and please don't take this the wrong way. Is this purely a technical play? It seems from my GENERAL OBSERVATIONS that stores like this are dying. It's cheaper and easier to go to a more convenient location (walmart, target, meijer, etc.) when running other errands to get your office supplies, or even more convenient and growing in popularity to order them online. That's why I shorted this stock months ago for a real nice gain when it looked to be hitting some resistance. I stayed away this time when I mentioned it in the $9.30's, but I'd clearly be up on that short position as well. Obviously you have significantly more experience in the market than I do, but that's just how I see Staples in general.
Yes, purely technical, that is, I read the tape, no techno-mechanical-trigger tricks and for sure very, very little reading about the company....basically none of that "due diligence" stuff. It is such a waste of time. When I do read anything I put it into the context of what I see happening on the tape and judge the writer as legit, uninformed, or a liar with an agenda....never the other way around; never will I change my judgement on the tape because of what was written. And yeah, I never did like these stores either. I will say though, I could never complain about the help. But hey, I wasn't shopping for printer cartridges; I bought the stock. It has always been a crappy store but look at the price range over just the past year; 57% up and down, round and round. Now, tell me again, how it is that you were going to make a trading decision based on your "general observations". I don't think you're being totally honest, if so then I'm thinking you got lucky on that last short. Just because you got it in your head one day that the stores are no good...... no, no, you're killin' me Smalls. Luck is important, don't get me wrong. But here's the deal, I don't hold losers very long and I don't take big losses. I was just going over this year's results so far. My win-rate is only 60% but the average loss is 4.2% and the average gain is 37%. So I've been wrong 40% of the time. So put that in your back pocket the next time you think you should listen to me. So, right now I'm sitting on this dead flat and I almost sold the close since it had that terrible close 2 cents under the selling bar of August 17th. But I decided to let it ride a little while. As you can see it has established another small trading range and within that range today's bar represents a failed upthrust. That is usually followed by another trip down for a test and Phase C action; the definitive price action that proves it is accumulation, or it won't, and I get out with a lump. It'll either find support at a higher level with no supply or they'll scare 'em with a spring under the range. I don't understand why you would want to take shorts when the general market is in an uptrend, and when on the weekly chart this little trading range is not showing any supply or volatility and could be the Last Point of Support, and there's a strong uptrend in the background, and it came down into this range without hardly any supply coming into the market, but for a scalp, today would have been as good as any to short this I suppose. Believe me I'm like a million miles away from those guys who think shorts are the ruin of truth and justice. I started trading during the dot com bear and cut my teeth shorting. Daily:
