Perhaps closing above $3.60 was too tall of an order for today. Sirius XM did test a new 52 week high, but did not hold it. The equity closed up a penny ($3.59), but was as high as $3.63. I still feel that Sirius XM can walk higher, but we may need to wait a few more days. Essentially it appears to be a one step at a time process.
We still want to see volume over 65 million to signify strength. We also still want to watch the $3.50 level on the down side.
Support and Resistance
Exponential Moving Averages