Xerox Corporation Stock Forecast
Xerox Corporation stock price down 0.0618% on Thursday
(Updated on Apr 18, 2024)
The Xerox Corporation stock price fell by -0.0618% on the last day (Thursday, 18th Apr 2024) from $16.19 to $16.18. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.45% from a day low at $16.16 to a day high of $16.55. The price has fallen in 8 of the last 10 days and is down by -7.6% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -386 thousand shares and in total, 1 million shares were bought and sold for approximately $21.26 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.68% during the next 3 months and, with a 90% probability hold a price between $13.45 and $16.84 at the end of this 3-month period.
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XRX Signals & Forecast
There are few to no technical positive signals at the moment. The Xerox Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.56 and $17.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, January 29, 2024, and so far it has fallen -17.49%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Xerox Corporation stock
Xerox Corporation finds support from accumulated volume at $16.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.395 between high and low, or 2.45%. For the last week, the stock has had daily average volatility of 2.71%.
Xerox Corporation is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XRX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Xerox Corporation to open at $16.30, and during the day (based on 14 day Average True Range), to move between $15.68 and $16.68, which gives a possible trading interval of +/-$0.497 (+/-3.07%) up or down from last closing price. If Xerox Corporation takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.09 (0.56%) than the resistance at $16.67 (3.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Xerox Corporation will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.380. We will update the financials statements for Xerox Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.73% in the first trading day after earnings release.
Is Xerox Corporation stock A Buy?
Xerox Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.339 Sell Candidate Unchanged
Predicted Opening Price for Xerox Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $16.30 ( 0.711%) | $16.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.69 | 3.15 % | |
| R2 | 16.54 | 2.22 % | ||
| R1 | 16.45 | 1.64 % | ||
| Current price: | 16.18 | |||
| Support | S1 | 16.14 | -0.222 % | |
| S2 | 16.05 | -0.798 % | ||
| S3 | 15.90 | -1.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.15 | 12.18 % | |
| R2 | 16.76 | 3.58 % | ||
| R1 | 16.67 | 3.03 % | ||
| Current price | 16.18 | |||
| Support | S1 | 16.09 | -0.556% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
XRX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.250 | 1.54% |
| 2 | Oct 19, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.250 | 1.35% |
| 3 | Jul 20, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.250 | 1.95% |
| 4 | May 25, 2023 | Jun 29, 2023 | Jul 31, 2023 | $0.250 | 1.56% |
| 5 | Feb 16, 2023 | Mar 30, 2023 | May 01, 2023 | $0.250 | 1.62% |
FAQ
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