Demand for Xerox stocks could rise after lows update

06 July 2022 110
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Stocks of Xerox fell to new lows. Quotes went below the spring 2020 lows, when the bottom was found at around 14.18. These levels will sooner or later meet the eye of speculators counting on a rebound.

Despite the fall on Tuesday, during the day there were active attempts to redeem the drawdown, and as a result, a hammer was formed on the chart. The Stochastic indicator also signals about an imminent upward rebound, where the blue line has dropped to the oversold area.

As a rebound target, one can consider the 15.7 level, which acted as support for Xerox stocks in the second half of June.

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