High volatility in SIGA stock price on Thursday which ended trading at $24.79

The SIGA stock price gained 8.25% on the last trading day (Thursday, 11th Aug 2022), rising from $22.90 to $24.79. , and has now gained 4 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 13.21% from a day low at $22.33 to a day high of $25.28. The price has risen in 7 of the last 10 days and is up by 10.92% 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, 13 million shares were bought and sold for approximately $322.17 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 $24.36, a level that may pose a second chance to hit a runner. According to fan-theory $33.74 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 $21.96 and $15.81. 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 44.21%. 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 $22.35.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 $22.35 and $19.47.

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 $2.95 between high and low, or 13.21%. For the last week, the stock has had a daily average volatility of 15.06%.

SIGA holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.