We are certainly in an interesting place with SiriusXM. The technicals are telling a bullish story. My only hesitation is that we are fast approaching the quarterly call, and volume is drying up as the equity holds in a critical area of support and resistance without really breaking through. On the positive side of things, a good call can deliver us to the $3.60's. On the negative side, a mediocre call can bring us back into the $3.30's. It is a tough call to make.
In my opinion there will not be anything earth shattering on the call in either a positive or negative light. I actually believe that the numbers will all be good, but am not sure that the numbers will be compelling enough to drive this stock.
We closed at $3.48 on low volume. We have held above the 100 day EMA, and have now closed above the 200 day EMA. Holding above $3.47 will be important. We also want to see the 100 day EMA bring itself up and cross over the 200 day EMA.
Support and Resistance
Exponential Moving Averages