From a technical perspective, SIGA bounced modestly higher here right above some near-term support at $3.32 with lighter-than-average volume. This bounce is starting to push shares of SIGA within range of triggering a big breakout trade. That trade will hit if SIGA manages to take out some near-term overhead resistance levels at $3.74 to $4 with high volume.
Traders should now look for long-biased trades in SIGA as long as it's trending above support at $3.32 or above its 50-day at $3.20 and then once it sustains a move or close above those breakout levels with volume that hits near or above 270,742 shares. If that breakout triggers soon, then SIGA will set up to re-test or possibly take out its next major overhead resistance levels at $4.43 to its 52-week high at $4.60. Any high-volume move above $4.60 will then put $5.50 to $6 within range for shares of SIGA.
There is Technical analysis and there is technical analysis.
Where the technical analysis is based on a scientific approach it does work -- and works spectacularly. Two example of what I mean are the trading methods of Ed Thorpe and the trading methods of James Simons.
======James Simons "Fundamental trading gave me ulcers, science, I understood..." Renaissance Technologies hires many researchers with a background in mathematics, physics, engineering or computer science, but they hardly ever hire anyone with a financial background
Simon started the Renaissance Technologies Inc. with about $6 million in 1982. The most successful fund of the company is Medallion fund . After years of excellent investment returns of the Medallion fund, his current personal assets amount to approximately 8.5 billion dollars according to Forbes (March 2010 data).
Simon is a great mathematician, and for many years he has been the Math Department Chair of SUNY-Stony Brook. He studied in UC Berkeley, and got his Ph.D. there. He later returned to Berkeley, and there, together with famous mathematician S.S.Chern, they discovered the Chern-Simon Invariant, which is very important in the area of differential geometry, quantum field theory, and superstring theory.
D. E. Shaw, has praised Simon with the following words: "He is a first-rate scholar, with a genuinely scientific approach to trading. There are very few people like him."
=======Ed Thorpe was also a Phd with expertise in math and statistics and information theory. At one time Thorpe was the most active trader on the NYSE .
I'm thinkin the technical might coincide with the Courts Final DECISION that's coming up,,,could happen,,,or someone big wants to dump some,,,sooo they try-in to jack up pps to unload. either way ok with me if it goes past $4,,,jmo,gallen