From a technical perspective, SIGA is ripping higher here right above its 200-day moving average at $3.14 with lighter-than-average volume. This move is quickly pushing shares of SIGA within range of triggering a breakout trade. That trade will hit if SIGA manages to take out some near-term overhead resistance levels at $3.50 to its 50-day at $3.64 with high volume. At last check, SIGA has hit an intraday high of $3.60 and volume is well below its three-month average action of 299,118 shares.
Traders should now look for long-biased trades in SIGA as long as it's trending above today's low of $3.34 or above its 200-day at $3.14 and then once it sustains a move or close above those breakout levels with volume that hits near or above 299,118 shares. If that breakout triggers soon, then SIGA will set up re-test or possibly take out its next major overhead resistance levels at $4.43 to $4.60. Any high-volume move above $4.60 will then put $5 to $6 into range for shares of SIGA