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Volatile ride for Exela stock price on Wednesday moving between $0.13 and $0.16

StockInvest.us, 2 months ago

Exela

The Exela stock price gained 14.34% on the last trading day (Wednesday, 20th Jul 2022), rising from $0.13 to $0.15. During the day the stock fluctuated 18.60% from a day low at $0.13 to a day high of $0.16. The price has risen in 6 of the last 10 days and is up by 42.66% over the past 2 weeks. Volume fell on the last day by -532 million shares and in total, 423 million shares were bought and sold for approximately $64.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The last rating was given by Cantor Fitzgerald on Mar 24, 2022. The price target was changed from 4 to 2.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0998, a level that may pose a second chance to hit a runner. According to fan-theory $0.16 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Exela

Mostly positive signals in the chart today. The Exela stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.11 and $0.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, July 12, 2022, and so far it has risen 63.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

On the downside, the stock finds support just below today's level from accumulated volume at $0.14 and $0.13.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 finds support just below today's level at $0.14. If this is broken, then the next support from accumulated volume will be at $0.13 and $0.11.

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 $0.0244 between high and low, or 18.60%. For the last week, the stock has had a daily average volatility of 24.26%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Check full Exela forecast and analysis here.