It was RDBX's premarket high. But it was also the closing price from its massive day on May 2. When it broke that key level, it was a signal to shorts to exit…
But RDBX still has that $11 resistance level overhead, so the intraday move was a little choppy … Stubborn shorts likely doubled down and added to their positions.
Now, Friday's big squeezer was a lot smoother … and there was potential for even bigger gains…
In my Thursday afternoon SteadyTrade Team webinar, I broke down the technical levels that would be in play if SIGA started moving.
On Friday morning, I adjusted those levels based on the premarket action. It was my number one watch and I sent out an alert to Daily Market Profits subscribers with my trading plan…
The plan was to buy a break above the $11 level, risk $10.50, and I had a goal of $12 or higher.
I said SIGA continues to hold up even without any monkeypox news. Plus, it was a Friday before a long weekend, so shorts would likely want to get out if it started to grind higher.
SIGA broke through $11 just before 9:45 a.m. If you took the trade, our risk level of $10.50 was never triggered…
And if you played it safe and waited for a high-of-day break after 9:45 a.m., we got that move just before 11 a.m. Eastern. And SIGA slowly climbed higher all day to a high of $14.50.
Every market-open, this proprietary scanner (with an 85% win-rate on the year) filters through thousands of stocks within seconds to create a list of 20 potentially big-movers.
Imagine the hours of research this powerful algorithm can save you every morning.
Your next big trade could be alerted to you by this scanner as early as pre-market tomorrow…
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