I am not looking for a ton of movement in this equity until either we get the quarterly results or we get a response from the Independent Directors at SiriusXM regarding the Liberty proposal. It is pretty simple. The upside target is $3.84 and the downside risk is at about $3.50.
While a popular sentiment among some SiriusXM investors is to vote no, I would encourage you to save your sentiment and work from an informed standpoint when the deal gets more detail in it. I also think it is very prudent to stratagize as if the a deal of some sort will happen. The reason is simple. You likely already know what you would have done if this offer never happened. The smart move is to formulate a plan as if it is going to happen,
What we need to understand at the moment is that silence on the part of the board is not really our friend. There is uncertainty now, and that always brings about caution.
In my opinion we should hear from the board this week, but the company may wait until the call and handle the whole issue at once. While the Q4 put up by SiriusXM will meet all guidance, some of the numbers will not be pretty. The company has some dancing to do in the near term. For many, this is simply a hold and wait period of time.
While we wait, investors should make themselves more familiar with Liberty media and Liberty Global.
Support and Resistance
Exponential Moving Averages