Xerox Corporation (XRX) traded on unusually high volume on Oct. 30, as the stock lost 0.82% to close at $30.23. On the day, Xerox Corporation saw 3.31 million shares trade hands on 21,316 trades. Considering that the stock averages only a daily volume of 1.82 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $39.36 and $25.84 over the last 52-weeks, its 50-day SMA is now $32.46, and its 200-day SMA $29.52. Xerox Corporation has a P/B ratio of 1.5. read the rest here