Even Xerox Is Breaking Out
Dragonfly Capital | Nov 27, 2013 01:53AM ET
How far are you going to try to deny this is a raging bull market? Not only are the leaders leading. But the large caps are participating. Names you would never think to trade are breaking out. Yes breaking out. Don’t believe me/ Look at Xerox, (XRX). The chart below shows that this totally unexciting, non cloud, document servicing and outsourcing company is breaking out. After a strong pullback following earnings in October it fully recovered from a 15% price drop, consolidated.
and is breaking out the Tuesday before Thanksgiving. The Measured Move higher takes it to 12-12.25 and the momentum indicators support the continued move up. So if Xerox is a break out stock with an accelerating trend higher and 10% potential move can you finally get on board this bull?
Disclaimer: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Original post
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