Big movements in Exela Technologies, Inc. stock price on Wednesday moving 47.79% between high and lowStockInvest.us, 2 months ago
The Exela Technologies, Inc. stock price gained 22.76% on the last trading day (Wednesday, 7th Jul 2021), rising from $2.68 to $3.29. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 47.79% from a day low at $2.26 to a day high of $3.34. The price has risen in 7 of the last 10 days and is up by 149.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 171 million more shares were traded than the day before. In total, 326 million shares were bought and sold for approximately $1.07 billion.
Cantor Fitzgerald is very positive about XELA and gave it a "Overweight" rating on June 02, 2021. The price target was set to $4.00.
Given the current short-term trend, the stock is expected to fall -4.99% during the next 3 months and, with a 90% probability hold a price between $1.18 and $3.13 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
The Exela Technologies, Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.31 and $1.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 18, 2021, and so far it has risen 157.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $2.68.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.
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 $1.08 between high and low, or 47.79%. For the last week, the stock has had a daily average volatility of 32.59%.
The Exela Technologies, Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Exela Technologies, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.Check full Exela Technologies, Inc. forecast and analysis here.