High volatility in Exela Technologies, Inc. stock price on Tuesday which ended trading at $2.62StockInvest.us, 2 months ago
The Exela Technologies, Inc. stock price gained 6.50% on the last trading day (Tuesday, 27th Jul 2021), rising from $2.46 to $2.62. , 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 19.77% from a day low at $2.58 to a day high of $3.09. The price has fallen in 7 of the last 10 days and is down by -39.63% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 103 million more shares were traded than the day before. In total, 128 million shares were bought and sold for approximately $334.54 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 47.56% during the next 3 months and, with a 90% probability hold a price between $2.72 and $6.76 at the end of this 3-month period.
The Exela Technologies, Inc. stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $2.69. On a fall, the stock will find some support from the long-term average at approximately $2.27. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -39.63%. 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).
On the downside, the stock finds support just below today's level from accumulated volume at $2.39 and $2.34.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 $2.39. If this is broken, then the next support from accumulated volume will be at $2.34 and $2.12.
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 $0.51 between high and low, or 19.77%. For the last week, the stock has had a daily average volatility of 14.78%.
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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.Check full Exela Technologies, Inc. forecast and analysis here.