SiriusXM is still in consolidation. The volume dipped to 41 million shares. The good news is that the consolidation is working to build stronger support. We now have a moderate support point at $3.42. Just yesterday you would have had to go down to $3.23 to see that level of support.
As we go into options expiration I must caution that $3.50 still needs to be looked at. Personally I think the odds of dipping that low in 1 day are minimal. Just keep it in the back of your mind.
I would like to see the gaps in the levels between the EMA's contract a little bit. Thus far it has not happened. The company will be announcing many record numbers in less than a week. I am anticipating that a run may ensue. John Tinker raised his price target on SIRI all the way up to $4.60. He has the highest target on the street. I see more upgrades coming.
Support and Resistance
Exponential Moving Averages