It was a precarious dip for sure.  SiriusXM touched $3.00 today.  The equity did bounce and recover, but the confidence of investors has to be shaken at this point.  Just 3 months ago some were clamoring for Liberty Media to up its offer to something over $4.00.  As frustrating as the current price is, it is still less than 20% down from the $3.68 that was represented by the offer.

The question of the moment is whether or not SiriusXM will dip into the $2’s.  You may not want  to hear this, but I think it is quite possible.  If the quarterly report is not a big positive (the last one was not), then we could see downward pressure continue.  perhaps even beyond what we all feel is a bottom.  The important thing here is this equity staying above $3.00.  Personally I think holding through this conference call takes a lot of bravery.

The charts speak for themselves at the moment.  Caution is warranted.

Volume

4-15 siri volume

 

Support and Resistance

4-15 siri sr

 

Exponential Moving Averages

4-15 siri ema