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High volatility in SIGA stock price on Friday which ended trading at $23.30

StockInvest.us, 1 month ago

SIGA

The SIGA stock price gained 19.67% on the last trading day (Friday, 5th Aug 2022), rising from $19.47 to $23.30. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 26.43% from a day low at $18.88 to a day high of $23.87. The price has risen in 8 of the last 10 days and is up by 91.61% 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, 8 million more shares were traded than the day before. In total, 31 million shares were bought and sold for approximately $723.80 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 $21.69, a level that may pose a second chance to hit a runner. According to fan-theory $27.36 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

SIGA

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 $19.52 and $14.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 13, 2022, and so far it has risen 139.96%. 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.

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 $4.99 between high and low, or 26.43%. For the last week, the stock has had a daily average volatility of 17.34%.

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.

Check full SIGA forecast and analysis here.