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Shares of OfficeMax Rise Above Previous 52-Week High

Published on Tue, 02/05/2013 - 15:20
By Adrienne Chilton

OfficeMax (NYSE:OMX) traded today at a new 52-week high of $11.45. Approximately 1.4 million shares have changed hands today, as compared to an average 30-day volume of 1.3 million shares.

OfficeMax share prices have moved between a 52-week high of $11.45 and a 52-week low of $4.10 and are now trading 172% above that low price at $11.15 per share. The 200-day and 50-day moving averages have moved 1.29% higher and 0.91% higher over the past week, respectively.

OfficeMax Inc sells and market office products. The Company distributes and retails a variety of products such as office supplies, technology products, and business furniture. OfficeMax sells through stores located throughout the United States, Canada, and Mexico, and many of the products are also sold through its catalog and online.

Based on a current price of $11.15, OfficeMax is currently 6.0% above its average consensus analyst price target of $10.48. The stock should find initial support at its 50-day moving average (MA) of $10.07 and further support at its 200-day MA of $6.90.

By Adrienne Chilton
achilton@fnno.com

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