Approaching Resistance: Xerox
Published on Wednesday, 20 March 2013 08:52 Written by TradersHuddle Wire
New York, March 20th (TradersHuddle.com) - Shares of Xerox Corporation (NYSE:XRX) are trading very close to calculated resistance at $8.75. The stock ended the trading session at just $8.62, which is near levels that make it difficult to buy or start a position.
Xerox Corporation (NYSE:XRX) develops, manufactures, markets, and services a range of document imaging and processing products and services for use in offices around the world.
Xerox's stock range is defined by its calculated support defined at $7.88 and by the resistance level at $8.75; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for Xerox. However, as the stock pulls back towards $7.88 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $8.75 then traders will get an opportunity to enter the stock as it moves to a higher range.
- Lululemon Is Near Resistance
- Is Lululemon Breaking Down?
- Lululemon Is Approaching Important Moving Averages
- Playing the Setup in Lululemon
- Lululemon Is Close to Resistance
- Trading Idea: Entry Levels for Lululemon
- Is Lululemon Setting up for a Break Out?
- Lululemon Is Near to the 50 and 200 Day Moving Averages
- Lululemon Is Close to Important Price Levels
- Trading Idea: Is Lululemon close to Support?
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines