High volatility in Exela Technologies, Inc. stock price on Monday which ended trading at $2.84StockInvest.us, 2 months ago
The Exela Technologies, Inc. stock price gained 7.98% on the last trading day (Monday, 2nd Aug 2021), rising from $2.63 to $2.84. , and has now gained 4 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 13.11% from a day low at $2.68 to a day high of $3.03. The price has risen in 6 of the last 10 days, but is still down by -6.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 27 million more shares were traded than the day before. In total, 40 million shares were bought and sold for approximately $113.82 million.
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.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 54.5% during the next 3 months and, with a 90% probability hold a price between $3.10 and $7.28 at the end of this 3-month period.
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 $2.59 and $2.39. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, July 13, 2021, and so far it has fallen -34.56%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
Exela Technologies, Inc. finds support from accumulated volume at $2.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.35 between high and low, or 13.11%. For the last week, the stock has had a daily average volatility of 10.70%.
Exela Technologies, Inc. is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Exela Technologies, Inc. stock to perform well in the short-term.Check full Exela Technologies, Inc. forecast and analysis here.