SiriusXM is still in consolidation.  The volume dipped to 41 million shares.  The good news is that the consolidation is working to build stronger support.  We now have a moderate support point at $3.42.  Just yesterday you would have had to go down to $3.23 to see that level of support.

As we go into options expiration I must caution that $3.50 still needs to be looked at.  Personally I think the odds of dipping that low in 1 day are minimal.  Just keep it in the back of your mind.

I would like to see the gaps in the levels between the EMA’s contract a little bit.  Thus far it has not happened.  The company will be announcing many record numbers in less than a week.  I am anticipating that a run may ensue.  John Tinker raised his price target on SIRI all the way up to $4.60.  He has the highest target on the street.  I see more upgrades coming.

Volume

7-18 siri volume

 

Support and Resistance

7-18 siri sr

 

Exponential Moving Averages

7-18 siri ema