I am back! The wedding went very well, and the honeymoon was a blast. I would like to thank all of you for your kind words and patience while I celebrated what was a fantastic time in my life. SiriusXM stayed pretty tight in a range in my absence, and while the technicals do not look pretty, there could be early indications that we may see a consolidation of the EMA's and a move coming soon.
The volume on Friday was light, but heavier than the day before. The action Thursday saw extremely low volume, which could indicate a bottom. We saw the close remove one caution flag from the EMA chart. We currently sit just below the 100 day EMA which is at $3.70. If we cross that, the next real resistance is my short term upside target of $3.76 with the mid term target at $3.84 within striking range.
We want to watch to see the equity cross $3.70 on higher volume and hold. If the volume is over 50 million shares we want to see $3.76 taken out. I will be back in the swing of things now, and have a lot of catching up to do. Stay Tuned!
Support and Resistance
Exponential Moving Averages