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SIGA Technologies (SIGA) Reaches Initial Resistance Level, Watch for 2.87% Potential Upside Continuation

Written on Mon, 06/28/2010 - 2:24pm
By Chip Brian

SmarTrend has detected shares of SIGA Technologies (NASDAQ:SIGA) have bullishly opened above the pivot of $7.11 today and have reached the first resistance level of $7.62.
We are watching for a cross of the next upside pivot targets of $7.88 and $8.65. Also, the shares should find initial support at the 200-day moving average of $6.95 and further support at the 50-day moving average of $6.90.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of SIGA Technologies on June 08, 2010 at $6.28. Since the call, the stock has fallen -22%.

Keywords: siga technologies pivot points

Ticker(s): SIGA

Contact Chip Brian



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