Looking at my charts last night, I think we stay fairly flat the next 3 to 4 days without any news. Will be buying if we start closing in on the lower BB.
SIRIUS XM SATELLITE RADIO FORUM
Looking at my charts last night, I think we stay fairly flat the next 3 to 4 days without any news. Will be buying if we start closing in on the lower BB.
The lower BB is a long ways away RC, currently 2.82. Maybe the mid point of the BB which is currently $3.01?? or do you think we will break through that $3 level and the mid BB and test the lower BB before it gets into the 2.90s...Originally Posted by Redcloud
Im talking about the 5 day BB for a buy, the monthly chart looks like we stay fairly flat for a few days before continuing any uptrend to CC. Imo
Where does the bottom of the 5 day BB currently sit?
EDIT: Looks like 3.11. Is that price point you are referring to??
Last edited by denco1; 01-14-2013 at 01:42 PM.
I've said all along that I think we will eventually fill the gap at 2.91-2.95, and that might be confirmed by the fibonacci retracement calculation where the 50% correction places us exactly in that gap. While that remains slightly above the lower BB, this analysis seems to agree with what Red is looking at.
Not at computer right now. Ill check for ya later this evening.
I do think we fill that gap as well but the BIG question is does it fill before or after the CC?
EDIT: Unless things really breakdown in the Macro or some unforseen Bad news in SIRI, I don't see us filling before the CC with the fact that we just got over on HIGH volume a resistance level at 3.15 and have traded over $3 all year without exception of any day in 2013. I would think we have built up some pretty strong support at the $3 level.
Last edited by denco1; 01-14-2013 at 01:51 PM.
Then again with the controll the MM have, anything can happen. If we hold the 5 sma and more importantly 3.15 today, that would be a nice confirmation of Fridays heavy volume action.
EDIT: If we don't then we are going to retrace. The question is how far...20 sma??
Last edited by denco1; 01-14-2013 at 01:59 PM.
Pardon the duplication, but I am experimenting with various charting tools. My previous chart was printed on Freestockcharts.com and copied here. This chart represents the same data as the last chart and is created using the Think or Swim charting tool at TDA.
This one is a bit more precise as it specifically identifies the 50% Fibinocci retracement at 2.92, and it includes the BB mid point trace. Unfortunately Denco, it isn't smart enough to inform just how low the retracement will be once it occurs. Personally, I'm going to lay in wait at the Gap, but will be prepared to belay my buy orders there until confirmation of the bottom price in the retracement. I know that is easier said than done, but at least that's my plan.
Last edited by siriusly_invested; 01-14-2013 at 02:43 PM.
A bit quiet today???
I was a betting man that Liberty picked up a few with all that vol the other day....
I take solace in that they will within the 60 days of the fcc rule....What day are we on now??
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