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High volatility in Exela Technologies, Inc. stock price on Wednesday which ended trading at $2.39

StockInvest.us, 2 months ago

Exela Technologies, Inc.

The Exela Technologies, Inc. stock price gained 2.14% on the last trading day (Wednesday, 30th Jun 2021), rising from $2.34 to $2.39. , and has now gained 5 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 44.65% from a day low at $2.15 to a day high of $3.11. The price has risen in 6 of the last 10 days and is up by 67.13% 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, 77 million more shares were traded than the day before. In total, 432 million shares were bought and sold for approximately $1.03 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.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.

Given the current short-term trend, the stock is expected to fall -21.75% during the next 3 months and, with a 90% probability hold a price between $0.94 and $1.87 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.

Exela Technologies, Inc.

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 $1.65 and $1.57. 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 86.72%. 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.

Exela Technologies, Inc. finds support from accumulated volume at $2.34 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 $0.96 between high and low, or 44.65%. For the last week, the stock has had a daily average volatility of 21.75%.

Exela Technologies, Inc. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Exela Technologies, Inc. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Check full Exela Technologies, Inc. forecast and analysis here.