$XELA Falling Wedge breakout Trade IdeaTrade Idea - Potential 60% upmove on XELA once the falling wedge breakout is confirmed... DYOR (DoYourOwnResearch - just a trade idea :) )
XELA
DOGE Days of Summer 786 On WatchDOGE ...like many altcoins has gotten beaten up for weeks but over the weekend (unless you're living under a rock), crypto is having a bit of a renaissance, DOGE included. So we took a closer look at some basic levels following a Fib retracement plot and wouldn't you know it, some interesting levels have emerged. Namely the 786 fib has clearly been a sticky area (around $0.27-$0.29). Previously, it was an area of support following the monster breakout earlier this year but now appears to be an area of resistance. Since breaking below the 786 fib, DOGE has now tested this area to the upside twice and, so far, has gotten denied twice. But considering the excitement in crypto and bitcoin stocks chatter over the weekend, it could be something to pay attention to should the bullish sentiment remain in place heading into the week. Keep in mind, you've still got rumors floating about Amazon and it's supposed crypto link:
"Some penny stocks are on fire to start the week. That’s partially thanks to an upbeat sentiment in cryptocurrencies like Bitcoin and Dogecoin right now. This past weekend, rumors emerged expressing Amazon ( NASDAQ:AMZN ) would start accepting Bitcoin by the end of the year...Further rumors discussed that the company would develop its own currency by next year. According to an anonymous source talking to City A.M., 'This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future—this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work.'...Rumors are still just that; rumors. But these were enough to give a hefty spike in Bitcoin, Dogecoin, Ethereum & other cryptocurrency prices. With that has come a slew of momentum into both tech and cryptocurrency penny stocks today...Discussed with Cinedigm Corporation ( NASDAQ:CIDM ), Bit Digital Inc. ( NASDAQ:BTBT ), Hut 8 Mining ( NASDAQ:HUT ), Exela Technolgies Inc. ( NASDAQ:XELA ), Vinco Ventures ( NASDAQ:BBIG )
Quote Source & Read More: Best Penny Stocks To Buy On Bitcoin, Dogecoin Price Action? 5 To Watch
XELA - Still alive and running strongCan XELA break levels of resistance set back in 2019? It has the volume, the sentiment and the technicals (i.e. short interest) to move higher prior to earnings.
Xela is steadily moving through a historical level of resistance with strong volume. XELA is highly shorted, attracting traders playing it for the short squeeze. As long as people are buying, especially when the stock is in single digits, XELA has the ability to fly past the current level of resistance and quickly revisit 5.00 and higher.
Keep an eye on volume and ride the wave to what can be a phenomenal run.
Any More Steam Left For XELA?XELA had a great run but is the steam running out? Lower volume day on 7/14 in tandem with the big drop. However, there are a few levels to keep track of. First, the 382 fib line. XELA was denied at this level twice this week with the second time resulting in the breakdown. BUT you've also got the 50 Fib,which has rarely acted as a major support BUT was a significant level of resistance in March and then you've got the 618 fib line, which was a much more consistent resistance level for the stock through the year. Thoughts are that volume could be important to watch as well as certain chart levels. Let's also not forget that these are some of the highest prices and volume that it's seen in some time....why keep that in mind?
"On June 30, 2021, Exela Technologies, Inc., a Delaware corporation (the “Company”), issued a press release announcing the launch of an offering for the sale of shares of the Company’s common stock, par value $0.0001 per share, having an aggregate offering price of up to $150,000,000 (the “Shares”). The Shares will be sold pursuant to the at market issuance sales agreement, dated May 27, 2021 (the “Sales Agreement”), between the Company and B. Riley Securities, Inc. and Cantor Fitzgerald & Co. (each, an “Agent” and, together, the “Agents”). A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K." (app.quotemedia.com)
No further updates on that topic have come up but something to keep in mind if you're watching XELA.
On July 12th, Exela announced that it has expanded its robotic process automation offerings with intelligent document processing. The President of Exela, Suresh Yannamani said, “Exela continues to iterate and advance solutions to meet our customers’ changing needs. The latest IDP and EON combination embraces the evolving work from anywhere environment that customers and their employees are embracing.”
Quote Source: Popular Reddit Penny Stocks to Buy? 4 to Watch As Summer Continues
🟡 WATCHING $XELA for ENTRY TARGET @ 2.49WATCHING $XELA for ENTRY TARGET @ 2.49
I will repost when it get’s closer if it goes that way and if it makes higher highs I’ll repost with new entry.
Look to the right. ENTRY target in grey. Sell target in green. Double position target in red. That’s it. I’m starting to also add in a few support levels to add as well.
XELA Exela Technologies Price TargetOn 6/2/2021 Cantor Fitzgerald Brokerage Initiated Coverage with Overweight Rating and a Price Target of $4.00
Yesterday`s volume was 333Mil and a Market Cap of 165.738M
Time to buy this stockBuy the dip and average down any further dips from here. This should double. Cant tell the timeframe though given overall market doing nothing.
XELA Technical Analysis 🧙Exela Technologies Inc is a location-agnostic business process automation (BPA) leader combining industry specific and multi industry enterprise software and solutions. The Company's BPA suite of solutions are deployed in banking, healthcare, insurance and other industries. The company is focused on work flow automation, attended and un-attended cognitive automation, digital mail rooms, print communications, and payment processing with deployments across the globe. The company partners with customers to improve user experience and quality through operational efficiency. It serves over 4,000 customers through a secure, cloud-enabled delivery model.
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Another Day, Another WedgeViewing a rising wedge pattern that is forming for a possible lift off to recent resistance levels. Very new at TA but like to throw my few cents out there to see opinions.
