Bullet Point – SIRI Testing Lower
SiriusXM still seems to be in consolidation mode. In early action volume is not heavy. The equity has now dipped below the 5, 13, and 20 day averages at $2.75 by testing $2.74. This was a key point. The lack of volume on the move means that there are no alarm bells ringing. Pay attention to see if this equity tests $2.70 or if it consolidates here. The early action is making resistance at $2.77 stronger.
The bullet is pointing down. I hope the bullet finds the right direction.