SIRI – Sirius XM Holdings

In my previous article for SIRI on January 7, 2018 I stated that

“If SIRI does not retake control of the 200 Day moving average line in the upcoming week, I would think that the continued break below it is then confirming the lower risk areas and price objectives that were calculated above.”

This 1 year daily candlestick chart shows that SIRI did indeed retake control of its 200 Day moving average in the week that followed. By retaking control of these longer-term moving averages on buying volume that was significantly higher than average volume, I would continue to use any pullback towards the 20 Day moving average as an opportunity to add more shares back to the long side and longer-term side. Things seem to have turned from bearish to bullish for SIRI with the retake of these moving averages.