Xerox Corp. (NYSE) analysis, chart, and trading idea

#XRX

The trend is descending. The stocks trade in the range of 365 and 135 moving averages. The ascendant wave pattern is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought conditions.

Trading idea:

Sell when the descending wave pattern is formed where wave A breaches the inclined channel of the ascending truncated pattern.

Stop Loss: 16.00.

Target levels: 14.10; 13.20.