On the daily and weekly charts, Xerox Corp
. shares are consolidating near the strong USD 12.50 support level
. The way the stock is performing implies an extension of the current trend. Weekly charts show no divergence or signs of a reversal to the upside. In this case, it is reasonable to expect the stock to move lower (stop-loss orders could be placed below USD 12.50) and there will be time to play the upside to USD 13.50. The exit of RSI
from a triangle could send a buy-in signal. Note, however, that first moves in this situation often turn out to be false.
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