Volatile ride for SIGA stock price on Thursday moving between $16.74 and $20.64StockInvest.us, 1 month ago
The SIGA stock price gained 6.45% on the last trading day (Thursday, 4th Aug 2022), rising from $18.29 to $19.47. During the day the stock fluctuated 23.30% from a day low at $16.74 to a day high of $20.64. The price has risen in 7 of the last 10 days and is up by 37.31% 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, 13 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately $451.02 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 76.01% during the next 3 months and, with a 90% probability hold a price between $23.96 and $40.76 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 $18.75 and $14.13. 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 Thursday, July 28, 2022, and so far it has fallen -12.89%. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $17.43 and $17.19.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 $17.43. If this is broken, then the next support from accumulated volume will be at $17.19 and $15.69.
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 $3.90 between high and low, or 23.30%. For the last week, the stock has had a daily average volatility of 25.93%.
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.