2 years ago SIRI broke the neckline of the Inverse H&S. My target price of $7.80 is almost reached. As of now I will be very cautious and start using a moving stoploss.
For those who are unfamiliar with the inverse H&S. A common way to set a price target is to measure from the head to the neckline. (in SIRI I measured 396) Then add that measurement to the neckline. That is a possible target price. I do not have much money to lose, so I play the cautious approach and start taking profits 5% lower than my target price.
For those who are unfamiliar with the inverse H&S. A common way to set a price target is to measure from the head to the neckline. (in SIRI I measured 396) Then add that measurement to the neckline. That is a possible target price. I do not have much money to lose, so I play the cautious approach and start taking profits 5% lower than my target price.
Comment:
A year and a half late we are again approaching a possible close above $7.30 which can cause an explosion. SIRI is still following a strong trendline since 2009. Thats over 10 years of positive trend. Long term hodls are the key, im telling you.