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XELA Stock Forecast: Exela Technologies completes tripling in two weeks, levels to watch

July 14, 2021 01:50 GMT | By Clay Webster

XELA stock looks to continue upward trend.

Exela Technologies introduces new AI-powered document processing software.

XELA shares are two weeks into ascending parallel channel.

Update July 14: Exela Technologies (NASDAQ: XELA) has been extending its gains on Wednesday with yet another double-digit jump. At the time of writing, the Irving, Texas-based software firm has seen its share price hit $5, a 15% rise on the day. Zooming out, XELA has more than tripled since the rally began in late June. The price was under $1.50 back then. Investors seem excited by the new AI capabilities and technical traders also point to a bullish trend, as explained below.

Exela Technologies (NASDAQ: XELA) rose more than 9% in Tuesday’s premarket as investors believe there may be a repeat of Monday’s unexpected 19% surge when the market officially opens. Monday’s run-up to $3.47 was in response to the launch of a new artificial intelligence offering that is supposed to speed up document processing.