It is not bullish or bearish per se. SiriusXM seems to be back to trading on light volume and simply consolidating. It can certainly test $3.45 or so just as easily as it can test $3.30. The good news is that the 13 day EMA is now up to $3.29, meaning that the narrower trading range has a decent support base just below current trading levels. Testing above $3.45 will take a big volume share buyback, or compelling news. I do not see either on the near term radar. I think the biggest buybacks come after July.
We want to see a move on volume of 60 million or more to signify strength
Support and Resistance
Not much resistance above other than psychological. However, no driving force either. Support at $3.25 is the safety net, though there is some perceived strength at about $3.30.
Exponential Moving Averages
Pay attention to the 13 day EMA. It is the first line of defense, and a typical low when the trading range is narrow.