Bullet Point – SiriusXM Testing Lower
SiriusXM has moved past $2.75 and seems to be poised to test the 50 EMA at $2.71. Watch this closely. If it happens on strong volume (that does not appear to be the case), then we need to pay close attention to the $2.45 / $2.65 range. A bounce off of the 50 day would be positive. The equity will bring on another two caution flags with a close below $2.76. Watch closely…we are seeing a see-saw effect on low volume.