Weaker technical forecast for Exela Technologies, Inc. as stock downgraded to Hold/Accumulate.StockInvest.us, 2 months ago
No changes to the price of Exela Technologies, Inc. stock on the last trading day (Friday, 11th Mar 2022). During the day the stock fluctuated 0% from a day low at $0.85 to a day high of $0.85. The price has fallen in 5 of the last 10 days, but is still up by 24.03% over the past 2 weeks.
On Nov 09, 2021 "B. Riley" gave "$4.00 - $3.00" rating for XELA. The price target was changed from $1.59 to 6.5%.
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 $0.85, a level that may pose a second chance to hit a runner. According to fan-theory $1.47 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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 $0.71 and $0.70. A breakdown below any of these levels will issue sell signals. 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 Thursday, March 10, 2022, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
On the downside, the stock finds support just below today's level from accumulated volume at $0.79 and $0.78.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 $0.79. If this is broken, then the next support from accumulated volume will be at $0.78 and $0.64.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 14.37%
Exela Technologies, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.Check full Exela Technologies, Inc. forecast and analysis here.