Thursday, January 15, 2009

XRX Could Be On the Move

Xerox (XRX) from Market Intelligence Center:
"Xerox (XRX) could be on the move today and is now at $7.41, down $0.51 (-6.44%) on volume of 2,193,950 shares traded. Over the last 52 weeks the stock has ranged from a low of $4.83 to a high of $16.00. Xerox stock has been showing support around $7.47 and resistance in the $8.55 range. Technical indicators for the stock are neutral and S&P gives XRX a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on XRX the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 9 range. [ABR-Seven Summits Strategic Investments NewsBite]"
So while we are waiting for the stock to recover, how about dividends, so we can not worry about what the Market geniuses predict will happen to the price.

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