High volatility in Exela Technologies, Inc. stock price on Monday which ended trading at $3.47StockInvest.us, 2 months ago
The Exela Technologies, Inc. stock price gained 19.24% on the last trading day (Monday, 12th Jul 2021), rising from $2.91 to $3.47. , 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 21.81% from a day low at $2.98 to a day high of $3.63. The price has risen in 7 of the last 10 days and is up by 149.64% 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, 66 million more shares were traded than the day before. In total, 241 million shares were bought and sold for approximately $836.42 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.
Given the current short-term trend, the stock is expected to rise 9.48% during the next 3 months and, with a 90% probability hold a price between $1.48 and $3.80 at the end of this 3-month period.
Mostly positive signals in the chart today. 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 $2.74 and $1.80. 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 171.09%. 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 $3.29 and $2.91.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 Technologies, Inc. finds support just below today's level at $3.29. If this is broken, then the next support from accumulated volume will be at $2.91 and $2.80.
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 $0.65 between high and low, or 21.81%. For the last week, the stock has had a daily average volatility of 37.54%.
Exela Technologies, Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.Check full Exela Technologies, Inc. forecast and analysis here.