For those that missed it there were about 40 million shares of block trades in SiriusXM yesterday. Most of the orders filled after hours. Blocks of that size do not typically happen out of the blue and it is my opinion that there may be something compelling sitting in the news pipeline. The technicals still indicate consolidation and in my opinion there is still a bias to the upside. If you are an active trader and out you may want to consider re-entry. I see the risks as a dip to $2.70 but the rewards being a test of $2.95...Perhaps it can even make a run at $3.00.
Bear in mind that I do not know if there is news in the pipeline. All I know is that big blocks went through and that usually indicates that something is out there.