This might be a bit subjective, but given the trading action that the equity closed out last week with, I think we are poised to make a run at... dare I say it... $3.75.  It may take a few sessions, but this equity, thanks to the share buyback dynamic, is taking on a patter of higher highs and higher lows.  It is also demonstrating on a regular basis that it can grow wings about every month or so.


Watch for volume over 65 million.  If this happens a run is in the works.  Pay close attention as it can happen quick.

5-24 siri volume

Support and Resistance

We have a resistance level at $3.70.  When was the last time we heard that?  It has been YEARS!  Be watchful though.  The buyback dynamic is providing support.  The biggest support below is all the way down at $3.21.  There are levels above, and the EMA's offer support as well.  In my opinion all is safe as long as we keep above $3.53 or so.

5-24 siri sr

Exponential Moving Averages

The key here is $3.53.  You simply need to watch that closely.  I am placing much greater odds that we make a small run than at testing lower.  That does not mean we let our guard down though.

5-24 siri ema