- February 15, 2012
- Posted by: Ramki Ramakrishnan
- Category: US Stocks outlook
In his latest post on Forbes, John Navin has drawn attention to Xerox Corp, (NYSE: XRX). I tend to agree with John even from an ELliott Wave perspective. Xerox Corp stock has completed a five wave rally from its March 2009 low of $4.12 and that move has been adquately corrected by the dip to $6.55 last October. Yesterday’s sharp rally higher by some 4% is likely the beginning of something interesting and traders who can afford a stop at $8 can consider going long on any minor dip.