Wednesday, September 08, 2010 8:46:11 AM
Re: XRX - Xerox: WEEKLY Chart:
I woke up to sip on a nice hot cup of coffee this morning, and my peripheral field of vision got distracted by my browser getting hit with an unusually high number of Xerox pop-up commercials - Good job, there, Xerox marketers. So, I decided to look at what is going on in this company's chart development.
Turns out that $XRX has been under institutional then, registered stockholders' buying pressure for quite some time. Of late, retail is coming to join the pressure as well.
While RSI has produced its most positive signal by confirming a BULLISH reversal signal in late JUN 2010, its lines have since suggested some sideways patter, or consolidation. However, PPS maintained a strong support ever since it decline from a high of 11.81 in mid-MAY 2010 to find support at the significant 50% Fib of 7.90 from which it produced a BULLISH reversal signal.
Since then, the price has held over its Fib of 38.2% at 8.82, seemingly nearing the conclusion of a down-flag, which should be considered as a sensible consolidation pattern prior to rally resumption in most cases - So, consider stops and limit orders accordingly, my trading friends.
Have a great week.
BTW, anyone know of any recommended activity in St-Louis as I venture my way there between 10-13 SEP? I will then drive back to my Durango, CO home for more review and discussion in PMs. Thank you in advance.
- Dalcindo
- Dalcindo
I woke up to sip on a nice hot cup of coffee this morning, and my peripheral field of vision got distracted by my browser getting hit with an unusually high number of Xerox pop-up commercials - Good job, there, Xerox marketers. So, I decided to look at what is going on in this company's chart development.
Turns out that $XRX has been under institutional then, registered stockholders' buying pressure for quite some time. Of late, retail is coming to join the pressure as well.
While RSI has produced its most positive signal by confirming a BULLISH reversal signal in late JUN 2010, its lines have since suggested some sideways patter, or consolidation. However, PPS maintained a strong support ever since it decline from a high of 11.81 in mid-MAY 2010 to find support at the significant 50% Fib of 7.90 from which it produced a BULLISH reversal signal.
Since then, the price has held over its Fib of 38.2% at 8.82, seemingly nearing the conclusion of a down-flag, which should be considered as a sensible consolidation pattern prior to rally resumption in most cases - So, consider stops and limit orders accordingly, my trading friends.
Have a great week.
BTW, anyone know of any recommended activity in St-Louis as I venture my way there between 10-13 SEP? I will then drive back to my Durango, CO home for more review and discussion in PMs. Thank you in advance.
- Dalcindo
- Dalcindo
Dalcindo's Public List
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
