Dallas, Texas 08/21/2013 (Financialstrend) – The stock of Xerox Corporation (NYSE:XRX) had recently been the subject of many research analysts on the Wall Street who are expecting the shares of this company to present potential upside movements. The analysts at Citigroup had upgraded the shares of the stock to buy rating from the earlier neutral rating. The stock had recently been making effective recoveries in its prices and is expected that the company would move on for a major trend reversal in the recent future.
While the shares of Xerox Corporation (NYSE:XRX) had been moving towards their bottoms at $10.55 per share in the recent past, there had been continuous decline in the prices that was observed for the past few weeks of trading. It was observed that the stock had been moving to higher lows with each day in the markets and if classical Dow Theory is to come true, then such continuous higher level of decline in prices should turnaround in the near future to present a trend reversal for the stock. Further, the company should also move higher to present surge in prices with every day of trading to ascertain this reversal in the bearish trend in prices.
Xerox Corporation (NYSE:XRX) had on Tuesday reported a closing price of $10.07 per share, which was measured to have presented a loss of 0.69% over the previous close. The stock, on Tuesday, had intraday price movements in the range of $9.99 to $10.15 per share for the day, while presently the stock’s 52 week lowest price level is at $6.10 and 52 week highest level is at $10.55 per share. The company presently has around 1.23 billion shares being traded in the markets with the market cap on Tuesday at $12.41 billion and institutional owners making a contribution of around 83%.