Xerox Corp: an upswing could be in the making

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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