Bullet Point 2 – Testing low end
We have not seen the $3.00 test materialize. It still could happen, but IMO that would be a dramatic shift from what has transpired over the last hour. SiriusXM is testing below $2.90. If it is willing to test a level, it means that it can go there. Not calling off the $3.00 top yet, but it is looking like it may want to take a trip down below $2.90 in the next few trading sessions.