Sirius XM Closes At Key Level – What Is Next? Tune Into SiriusBuzz Radio For Insight
Sirius XM closed above $1.00 for the seventh consecutive day. The question on everyone’s mind is where things will go from here. Certainly, there are overall market influences, but for Sirius XM, the key is trading above $1.00 for three more days.
Earlier today I noted that Sirius XM was trading right below a key support/resistance level of $1.09. Guess what happened. The equity closed directly at $1.09, leaving it an open question as to whether or not the company has support here. Support sits at $1.02 and resistance is at $1.14.
From a technical standpoint Sirius XM is now a mixed bag. There are indicators in both directions, and indicators that call for a sideways move. On an intraday basis the short term signals are not very rosey. Moving averages, MCADS (Moving Average Convergence Divergence), and Fibs are all bearish, RSI’s (relative strength index) are bullish, while Highs/Lows/and trends all seem to indicate a neutral state.
Given the trading that is happening, and a drop on volume, investors have every reason to watch this equity closely tomorrow and over the next three trading days. So what will happen? Of course no one knows, but there will certainly be a wide range of opinion. Investors in satellite radio have a great outlet to discuss the issue tonight on SiriusBuzz Radio, which will air at 9:00 PM EST.
Position – Long Sirius XM Radio
If anyone is calling-in tonight, I plead with you not to get sucked-in to the delisting/reverse split discussion. It is a nonstory.
Muscle, if you are calling-in, I implore you to tie-up Savery’s phone line as long as you possibly can (really jerk him around) with 20% EBITDA growth etc which is what well-informed investors should be properly focused on if they wish to make an educated investment decision in this equity without all the smoke & mirrors journalism . . . fundamental metrics, period the end.
Also, you can skip the first 15 minutes of the show tonight which will no doubt be a one-man filibuster on the dark clouds of discontent looming over the $1 listing requirement and reverse split . . from there we will likely here about the dark cloud of one-time charges that will weigh heavily on Q1 results . . . from there we will likely here about inflated front-end OEM costs due to ramp-up of sales in Q1 and April
Jimmy Cramer once said that the “stock is worthless” and that they should just “cancel the stock” . . . that’s when it was trading at around $0.20 . . . . and right before he again said it was worthless when it was trading around $0.60 and suggetsed that “the bonds are a better way to play Sirius”
Now Jimmy has a $1.50 price target . . . sorry Tyler, Homey don’t play dat.
Stay ever vigilant and keep your BS filters on at all times . . . other people are after your money!
Test. Website erased my last post
Topics I would like to hear about –
1. Stern on the apps
2. Used cars
3. EV/EBITDA valuation
4. Free retail radios with locked is subscription.
I will call in
excellent Muscle! I approve
5. NASDAQ Q-50 Index Portfolio
Well said Sirius Roadkill…
Saw this after the show…..s how did you like the show?
Thanks Spence . . Great listen!
I will be calling dude.
My topics for Spencer –
1. Stern on the apps.
2. Used cars
3. EV/EBITDA valuation
4. Free retail radios with locked in subscription.
I hope I can get about 10 or 15 minutes but that’s up to Spencer. I am just a caller.
I would hope Mel & co. are ready to put out a strong press release if needed ( I have to believe they have something in their back pocket if needed) to off set something negative that might be concocted in a last day ditch effort to get the stock to close below a buck. Just like Wunderlich Securities on day 8 of the last run!
Really good show tonight, Spencer. Thanks to Muscle and Demian, too, for additional insight.
Cartman….
Thank You for the kind words
Really good show tonight, Spencer. Thanks to Muscle and Demian, too, for additional insight.
Really good show tonight, Spencer. Thanks to Muscle and Demian, too, for additional insight.