SiriusXM seems to have paused a bit today. Volume was slightly higher than yesterday but closed down a couple of cents. I look at this as a simple pause. I find this pause healthy for the equity. The target of a 52 week high is only a bit over a dime away. Building up support at current levels bodes well for the equity.
Volume is still light, but is beginning to creep up. There are now only two trading sessions before the call. I feel we will see some more volume, especially on Monday, but the tale of the tape will be Tuesday as the company presents its results.
Support and Resistance
The story here has not changed much in the past few days. The level we are shooting for is $3.18 and then beyond. Strong support sits at $3.09. Watch the volume at $3.18. It will be a key level after the call if this equity can pass it on volume.
Exponential Moving Averages – EMA’s
We saw another warning flag disappear today. The signals here are getting more and more bullish with each passing day. Stay tuned, the signals will get more and more green.