In my opinion SiriusXM is on the verge of a run that could, over the next few weeks see this equity test 52 week highs.  There is a word of caution.  This run needs substantial volume to hold.

I stated yesterday that a move above $3.40 would allow a test of $3.50.  We got it pretty quick with the equity touching $3.49.  I will say now that breaking $3.50 on volume of over 60 million will allow $3.57 to get tested.  The caution here is that the lower the volume this happens on, the weaker the move is.  To hold that and test 52 week highs we need to see an upward move on 80 million shares minimum, and preferably above 90 million shares.

We did get darn close to the 50 million shares in volume I spoke of yesterday.  That is a good start.  We want to see the volume continue now.  A PR about a pending conference call would be welcomed news right now.

Support and resistance is a flip of a coin right now.  The strongest support below is  $3.36.  Resistance above is minimal.  Holding $3.42 is important for pure psychological reasons, as is breaking $3.50.  This equity may lull here, but I think it wants to run.

The EMA's are now all green.  Get Ready!


7-8 siri volume

Support and Resistance

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Exponential Moving Averages

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