Exela Stock Forecast
Green day on Thursday for Exela stock after gaining 2.16%
(Updated on May 02, 2024)
The Exela stock price gained 2.16% on the last trading day (Thursday, 2nd May 2024), rising from $2.09 to $2.13. During the last trading day the stock fluctuated 7.54% from a day low at $1.99 to a day high of $2.14. The price has risen in 6 of the last 10 days and is up by 6.5% 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, 30 thousand more shares were traded than the day before. In total, 107 thousand shares were bought and sold for approximately $228.42 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.59% during the next 3 months and, with a 90% probability hold a price between $2.01 and $3.37 at the end of this 3-month period.
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XELA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 9.23%. 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). Exela has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Exela stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.41. On a fall, the stock will find some support from the short-term average at $2.10. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Exela stock
Exela finds support from accumulated volume at $2.07 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.150 between high and low, or 7.54%. For the last week, the stock has had daily average volatility of 8.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XELA) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Exela Technologies, Inc. to open at $2.09, and during the day (based on 14 day Average True Range), to move between $1.92 and $2.34, which gives a possible trading interval of +/-$0.211 (+/-9.91%) up or down from last closing price. If Exela Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 19.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.07 (2.82%) than the resistance at $2.29 (7.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Exela Technologies, Inc. stock A Buy?
Exela holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.280 Sell Candidate Unchanged
Predicted Opening Price for Exela Technologies, Inc. of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$2.09 ( 2.03%) | $2.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XELA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.24 | 5.01 % | |
R2 | 2.18 | 2.32 % | ||
R1 | 2.14 | 0.656 % | ||
Current price: | 2.13 | |||
Support | S1 | 2.03 | -4.72 % | |
S2 | 1.99 | -6.39 % | ||
S3 | 1.94 | -9.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.53 | 18.78 % | |
R2 | 2.41 | 13.15 % | ||
R1 | 2.29 | 7.51 % | ||
Current price | 2.13 | |||
Support | S1 | 2.07 | -2.82% | |
S2 | 2.00 | -6.10% | ||
S3 | 1.83 | -14.08% |
FAQ
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