Bullet Point – SIRI Flirting With Caution Flag
SiriusXM is flirting with a cation flag on the EMA charts. The equity has spent a good part of the morning at $3.12 and $3.13. A close at that level would initiate a caution flag as it is below the $3.14 price that represents the 5 day EMA. Volume is fairly light, so I do not see a rush to lower levels, but the caution flag potential is noteworthy considering that if the 5 DAY EMA breaks the 13 day EMA at $3.11 is the next test point. Watch closely, but do not get overly worried.
Both SIRI and LMCA were down today. SIRI traded only about 37 million shares, so it wasn’t a big sell off. So perhaps there was a factor that made both go down today, and not a trend specific to SIRI?
Any thoughts?