Xerox (XRX) to Buy Advectis

The shares of XRX are down 0.76% this morning after tacking on 1.4% on Tuesday. The equity has been edging sideways along support at its 20-day moving average during the past several days. However, the security is facing resistance at its 10-week moving average, which it has not closed above since late July. The equity is also between resistance at its 10-month trendline and support at its 20-month moving average.

Options players have grown rather complacent toward the shares as they meander sideways. Schaeffer's put/call open interest ratio rests at 0.60, which is near the middle of its annual range. Meanwhile, short interest plummeted 39% in August to 7.3 million shares, resulting in a meager short-interest ratio of 0.9. This accumulation leaves the shares without potential short-covering support.