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Big movements in SIGA stock price on Tuesday moving 11.46% between high and low

StockInvest.us, 1 month ago

SIGA

The SIGA stock price gained 2.70% on the last trading day (Tuesday, 9th Aug 2022), rising from $22.19 to $22.79. During the last trading day the stock fluctuated 11.46% from a day low at $21.91 to a day high of $24.42. The price has risen in 7 of the last 10 days and is up by 30.75% 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, 4 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately $388.57 million.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $23.67 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 93.95% during the next 3 months and, with a 90% probability hold a price between $27.89 and $45.91 at the end of this 3-month period.

SIGA

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 $20.30 and $15.14. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, August 05, 2022, and so far it has fallen -2.19%. Further fall is indicated until a new bottom pivot has been found.

SIGA finds support from accumulated volume at $22.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $2.51 between high and low, or 11.46%. For the last week, the stock has had a daily average volatility of 17.19%.

Several short-term signals, along with a general good trend, are positive and 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.

Check full SIGA forecast and analysis here.