Volatile ride for SIGA stock price on Monday moving between $13.83 and $16.34StockInvest.us, 2 months ago
The SIGA stock price gained 29.03% on the last trading day (Monday, 25th Jul 2022), rising from $12.16 to $15.69. During the day the stock fluctuated 18.15% from a day low at $13.83 to a day high of $16.34. The price has risen in 6 of the last 10 days and is up by 26.02% 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, 51 million more shares were traded than the day before. In total, 59 million shares were bought and sold for approximately $927.31 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 73.49% during the next 3 months and, with a 90% probability hold a price between $21.32 and $32.24 at the end of this 3-month period.
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 $14.17 and $12.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, July 22, 2022, and so far it has risen 29.03%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 $2.51 between high and low, or 18.15%. For the last week, the stock has had a daily average volatility of 12.25%.
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 Sell to a Strong Buy candidate.Check full SIGA forecast and analysis here.