Exela Technologies Consolidates Following Massive 100% Climb: What To Watch
Portfolio Pulse from Melanie Schaffer
Exela Technologies (NASDAQ:XELA) consolidated after a 103.9% climb on Wednesday due to a 1-for-200 reverse stock split, reducing its float to 6.4 million shares. The stock is currently forming an inside bar pattern, indicating a period of consolidation and a possible continuation move in the direction of the current trend.
May 19, 2023 | 2:42 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Exela Technologies (XELA) is consolidating after a 103.9% climb due to a 1-for-200 reverse stock split. The stock is forming an inside bar pattern, indicating a possible continuation move in the direction of the current trend.
Exela Technologies (XELA) experienced a massive climb due to a 1-for-200 reverse stock split, which reduced its float to 6.4 million shares. The stock is currently consolidating and forming an inside bar pattern, which indicates a period of consolidation and a possible continuation move in the direction of the current trend. This pattern is generally considered bullish, but the stock's future direction will depend on factors such as volume and the stock's ability to regain the 50-day SMA. As a result, the short-term impact on the stock price is neutral.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100