Big movements in SIGA stock price on Monday moving 10.98% between high and low

The SIGA stock price gained 5.66% on the last trading day (Monday, 15th Aug 2022), rising from $24.75 to $26.15. During the last trading day the stock fluctuated 10.98% from a day low at $24.32 to a day high of $26.99. The price has risen in 7 of the last 10 days and is up by 51.51% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 941 thousand more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $226.47 million.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $25.21, a level that may pose a second chance to hit a runner. According to fan-theory $34.78 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Mostly positive signals in the chart today. The SIGA stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.84 and $16.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, July 29, 2022, and so far it has risen 52.12%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $23.30 and $22.79.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SIGA finds support just below today's level at $23.30. If this is broken, then the next support from accumulated volume will be at $22.79 and $22.35.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.67 between high and low, or 10.98%. For the last week, the stock has had a daily average volatility of 10.39%.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for SIGA stock to perform well in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.