Exela Technologies Surges Following Partial Sale: A Technical Analysis
Portfolio Pulse from Melanie Schaffer
Exela Technologies (NASDAQ:XELA) surged over 8% after announcing the successful sale of its high-speed scanner manufacturing and maintenance business to Imaging Business Machines, LLC. The stock confirmed an uptrend, but there's a chance it may have printed a bearish double top pattern near the $5.70 mark.
June 09, 2023 | 7:14 pm
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Exela Technologies' stock surged after selling its high-speed scanner business, confirming an uptrend. However, a bearish double top pattern may be forming near $5.70.
Exela Technologies' stock price surged after the announcement of the sale, confirming an uptrend. However, the stock may have printed a bearish double top pattern near the $5.70 mark, which could indicate a potential reversal. This creates uncertainty in the short-term price direction, leading to a neutral score.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100