SIGA - Bullish to set a new high this week?
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NEWS - World Health Organization has declared Monkeypox a global health emergency. There are a few stocks that are seeing a bullish move from this news, SIGA being one of them.
Our all time high on this stock is $17.50 and this was back in May of this year. This has the potential to set a new HOD for us in the coming weeks. I have taken a position in the mid 15 zone and looking to capitalize on a 10% move respectively this week with the potential to hold on to some for a longer ride up if the technical patterns line up. Based on todays trading we saw a rejection at the 16.30 zone twice which on the 15min time frame shows a double top potentially forming. I will be looking for this to either bounce off of my support line I drew or at the very least VWAP to see if we can turn this into a double bottom move up. Taking into account pre-market activities this looks like it is forming an ascending triangle as well which is another bullish pattern.
This is not financial advice. Trade safe everyone
Our all time high on this stock is $17.50 and this was back in May of this year. This has the potential to set a new HOD for us in the coming weeks. I have taken a position in the mid 15 zone and looking to capitalize on a 10% move respectively this week with the potential to hold on to some for a longer ride up if the technical patterns line up. Based on todays trading we saw a rejection at the 16.30 zone twice which on the 15min time frame shows a double top potentially forming. I will be looking for this to either bounce off of my support line I drew or at the very least VWAP to see if we can turn this into a double bottom move up. Taking into account pre-market activities this looks like it is forming an ascending triangle as well which is another bullish pattern.
This is not financial advice. Trade safe everyone
Nota
Amazing day on SIGA. I took a solid 15% on this trade today and AH continues to show bullish momentum. Although I have closed my position on this, I will continue to watch this week for another entry for a 5-10% tradeNota
A solid move and push right through
Penafian
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