My apologies for the lack of charts yesterday. We solved the technical glitch on my ability to log in, but a glitch on uploading charts is still being addressed. SiriusXM made a nice move up today on higher than average volume. The action helped to re-establish some strength in the support below.
We have strong support at $3.91 and again at $3.83. I like having two safety nets to the downside. It offers confidence in the next move being very limited to the downside. To the upside we have resistance at $3.97. What has set up is a need to pass into the $4's on volume. I like that as well. tip-toeing into the $4's would be fine, but surging into them on high volume is much better for the second leg up.
The EMA's remain all green. The 5 day EMA is at $3.92 and the 13 at $3.90. We want to preferably stay above $3.92, and we really want to hold the line at $3.90. That should be possible with support at $3.91. We do need to remember, that while the support level at $3.91 appears strong, it is still not mature. The 20 day EMA is $3.89. The 50 Day EMA is $3.81. My apologies for the lack of charts. We are working on the issue.