SiriusXM closed out the week with a close at $3.69. The stock price remains tight while consolidation happens. Volume was lighter than normal, but higher than the previous session. SiriusXM is very sensitive to the overall market at the moment, as there are few company drivers to look to. I believe that this equity will remain range bound through the end of the year.
Risk to the downside is $3.61. Potential to the upside is $3.84. Trading should be common between $3.65 and $3.75. Auto sales were good in November, so that news is now absorbed into the stock price. The key right now is watching the volume and the correlating moves. By example, being down a couple of cents on lower than average volume does not mean a rush to the exits.
I want to take a moment to thank those that stepped up to the plate on helping out my wife's cousin Samantha and her cancer. She will really appreciate the support, and seeing a perfect stranger help is an encouraging sign all around.
Support and Resistance
Exponential Moving Averages