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Big movements in Exela stock price on Tuesday moving 44.00% between high and low

StockInvest.us, 2 months ago

Exela

The Exela stock price fell by -1.85% on the last day (Tuesday, 19th Jul 2022) from $0.14 to $0.13. During the day the stock fluctuated 44.00% from a day low at $0.13 to a day high of $0.18. The price has been going up and down for this period, and there has been a 18.94% gain for the last 2 weeks. Volume has increased on the last day by 184 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 955 million shares were bought and sold for approximately $126.54 million.

The last rating was given by Cantor Fitzgerald on Mar 24, 2022. The price target was changed from 4 to 2.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.13, a level that may pose a second chance to hit a runner. According to fan-theory $0.22 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Exela

There are mixed signals in the stock today. The Exela stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.15. On a fall, the stock will find some support from the short-term average at $0.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, July 18, 2022, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $0.11 and $0.11.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Exela finds support just below today's level at $0.11. If this is broken, then the next support from accumulated volume will be at $0.11 and $0.10.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0550 between high and low, or 44.00%. For the last week, the stock has had a daily average volatility of 25.17%.

Exela holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Check full Exela forecast and analysis here.