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Volatile ride for SIGA stock price on Thursday moving between $17.78 and $21.16

StockInvest.us, 4 weeks ago

SIGA

The SIGA stock price fell by -15.16% on the last day (Thursday, 25th Aug 2022) from $21.04 to $17.85. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 19.01% from a day low at $17.78 to a day high of $21.16. The price has fallen in 7 of the last 10 days and is down by -28% for this period. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately $156.90 million.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $17.80 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 108.18% during the next 3 months and, with a 90% probability hold a price between $37.05 and $58.35 at the end of this 3-month period.

SIGA

There are few to no technical positive signals at the moment. The SIGA stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $21.95 and $18.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, August 15, 2022, and so far it has fallen -31.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

SIGA finds support from accumulated volume at $17.19 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 $3.38 between high and low, or 19.01%. For the last week, the stock has had daily average volatility of 9.95%.

The SIGA stock holds several negative signals and despite the positive trend, we believe SIGA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.

Check full SIGA forecast and analysis here.