SIRI – Sirius XM Holdings

This 5 year monthly candlestick chart for SIRI suggests the next leg lower is not far away. The Dark Cloud Cover candlestick pattern has been followed up by 2 Doji candlestick patterns.

Sidways movement usually means it will continue the trend before it. The Dark Cloud Cover candlestick started a new downtrend, and it appears to retest its $4 support area. There is a supporting trendline around the $3.80 area also.

This could be part of a larger pullback which I calculated could reach the $3.25 area. I’ve written about this before as part of my Elliott Wave updates.

With all that said, just be careful of any shares picked up around the $4 and $3.80 areas