High volatility in SIGA stock price on Tuesday which ended trading at $24.32
(Updated on Aug 16, 2022)
Buy or Hold candidate since 2022-07-25 Gain 55.00% PDF
The SIGA stock price fell by -7.00% on the last day (Tuesday, 16th Aug 2022) from $26.15 to $24.32. During the last trading day the stock fluctuated 10.91% from a day low at $23.53 to a day high of $26.10. The price has risen in 6 of the last 10 days and is up by 29.43% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 7 million shares were bought and sold for approximately $165.61 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $26.37 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 110.01% during the next 3 months and, with a 90% probability hold a price between $33.49 and $55.39 at the end of this 3-month period.
Signals & Forecast
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 $23.98 and $16.90. 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). 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 Monday, August 15, 2022, and so far it has fallen -7.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
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 $2.57 between high and low, or 10.91%. For the last week, the stock has had a daily average volatility of 10.28%.
Our recommended stop-loss: $22.93 (-5.72%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 days ago.)
Trading Expectations For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday 17th we expect SIGA Technologies Inc to open at $24.65, and during day (based on 14 day Average True Range), to move between $21.68 and $26.96, which gives a possible trading interval of +/-$2.64 (+/-10.86%) up or down from last closing price. If SIGA Technologies Inc takes out the full calculated possible swing range there will be an estimated 21.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.75 (1.77%) than the support at $23.30 (4.19%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.
Is SIGA Technologies Inc stock A Buy?
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.152Buy Candidate Downgraded
Predicted Opening Price for SIGA Technologies Inc of Wednesday, August 17, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 17, 2022||Current price|
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About SIGA Technologies Inc
SIGA Technologies, Inc., a commercial-stage pharmaceutical company, focuses on the health security and infectious disease markets in the United States. Its lead product is TPOXX, an oral formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. SIGA Technologies, Inc. has a strategic partnership with Cipla Therapeutics to deliver sustained innovation and access to antibacterial drugs primarily against biothre... Read more
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