SiriusXM held the proverbial line despite being down for the day.  The down move happened on lighter volume.  While there was risk of adding a second caution flag on the EMA chart, the equity closed at $3.83, just enough to keep the caution flag at bay.

The second big development with the recent action is a shift of the major support up to $3.76 from about $3.71.  Despite being down today, this is a positive development.  If you think about it, major support just improved by 5 cents.

What we are looking for now is the bottom to form, and then a march upward on volume.  We need to watch $3.79.  If that breaks, the likely bottom is $3.76 (short term).

I do not see a compelling reason for a jump right now, but not a ton of resistance either.  Stay tuned!

Volume

9-24 siri volume

 

Support and Resistance

9-24 siri ema