Bullet Point – Lower Volume
SiriusXM is trading modestly down on lower volume than we previously saw. If this type of volume remains it will be difficult for the equity to test $2.75. This leaves us with the potential that $2.75 is a near term crest. It does not mean a retracement as yet, as it appears to be holding the line at $2.70 well. This is an early indication of consolidation. From here it can continue consolidation or try to move up in my opinion. Be cautious and watch for news.