Xerox Holdings (XRX) stock experienced a positive development as its Relative Strength Rating increased from 69 to 73 on Monday. This rating, provided by Investor’s Business Daily, ranges from 1 to 99 and indicates a stock’s price performance over the last 52 weeks compared to other stocks in the database.
As investors consider buying or selling Xerox Holdings stock, it is important to monitor its price strength to determine if it can achieve the benchmark RS Rating of 80. High-performing stocks typically have an RS Rating of 80 or better in the early stages of their upward trend. However, while the computer hardware stock may not be an ideal investment during a market correction, investors can assess whether it forms a base and breaks out, making it a potential buy opportunity.
The company is slated to report its next quarterly numbers around April 23. Xerox Holdings stock is ranked fourth among its peers in the Computer-Hardware/Peripherals industry group, with Super Micro Computer (SMCI) holding the top position. To evaluate investment opportunities effectively, investors can utilize tools like MarketSurge and IBD Live for stock market analysis and track short-term trends with SwingTrader. Additionally, it’s essential to conduct thorough research on growth stocks using simplified tools like those provided by IBD.
