$AVDL $ONCT $SIGA Stock Market Recap 05/27/2022

Avadel Pharmaceuticals (AVDL)

This is an interesting move as the stock made a huge move to the downside yesterday, but almost recovered all of it today. There has also been plenty of analyst ratings flying around, all completely different. Some at $2 and others at $17. Today it made a huge move up but hit resistance at the 2.50 level. It had some key breaks out of 1.90 and 2.35 earlier in the day, probably squeezing from new short position from the prior day. It appears to be bullish on the chart but will need to break out of 2.50 for a bigger move. It might be hard to keep the moment over the long weekend.

Oncternal Therapeutics (ONCT)

ONCT broke out on some news, it previously had been in a long down trend. It broke out of the 1.10 level early, then had a huge breakout mid day. Clearly someone closing a position. It carried that momentum to the 1.45-1.60 range where it is now consolidating. Definitely one to watch for next week as it could see continuation to the upside if it can hold 1.45.

SIGA Technologies (SIGA)

SIGA made a technical breakout, squeezing some positions from the earlier days. It nearly broke the high of day from a few days ago, but then volume decreased and it consolidation above 13.4. Without another catalyst, it might need a strong break of 14 for a move to the upside but not sure how big that would be. A consolidation might be more likely or if it can't hold 13.40 then a retracement.

Recap