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Archive
- 4/5/2024 -
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Xerox Corp. (XRX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Xerox Corp. (XRX). During the week, the XRX dropped -0.62 points, or -3.46%, and closed at 17.28 on Friday, April 5, 2024. Weekly volume was 13% above average.
XRX is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See XRX long-term trend chart]
A long-term uptrend had started on October 25, 2023 at 12.06 and reached 19.78 on January 30, 2024. XRX gained -7.72 points, or -64.01%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 16.62 and resistance is at 21.41. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See XRX medium-term trend chart]
A medium-term downtrend had started on January 30, 2024 at 19.78 and reached 16.30 on March 15, 2024. XRX lost 3.48 points, or 17.59%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 15.61 and resistance is at 19.18. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See XRX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 15, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See XRX short-term trend chart]
A short-term uptrend had started on March 15, 2024 at 16.30 and reached 18.18 on April 4, 2024. XRX gained -1.88 points, or -11.53%, in 20 days. The price is now at the 47.87% retracement level.
Daily Technical Indicators: [See XRX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since March 22, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (17.2) comes close to the price (17.28). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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