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Volatile ride for SIGA stock price on Friday moving between $13.22 and $14.99

StockInvest.us, 2 months ago

SIGA

The SIGA stock price gained 10.32% on the last trading day (Friday, 15th Jul 2022), rising from $13.56 to $14.96. During the day the stock fluctuated 13.39% from a day low at $13.22 to a day high of $14.99. The price has risen in 7 of the last 10 days and is up by 29.19% 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, 1 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $102.73 million.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 77.61% during the next 3 months and, with a 90% probability hold a price between $22.21 and $31.52 at the end of this 3-month period.

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 $13.59 and $11.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 27, 2022, and so far it has risen 37.50%. 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 $13.68 and $12.40.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 $13.68. If this is broken, then the next support from accumulated volume will be at $12.40 and $12.19.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.77 between high and low, or 13.39%. For the last week, the stock has had a daily average volatility of 11.58%.

SIGA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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.

Check full SIGA forecast and analysis here.