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..../downloadFiling?webmasterI...)
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.”
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