SIRI is pulled back for a LONG entry
On 1 120 minute chart, SIRI is now well positioned having tested the support of
two sets of VWAP bands anchored back two earnings periods and so 3 months apart.
The mean VWAPs are confluent and so form strong support. I expect the price to
return to the early December high and test that level. In the past day a buying volume
aberrant spike was printed. The MACD lines have been crisscrossing under the histogram
signaling support of the cons9olidation of price with a series of Doji candles before the
final engulfing green dandle. Of interest, the next expiration of the options is February 16th.
On that date the dominant option strikes are %5.00 , %5.50 and $6.00
$5.00 is the present level for the strong support of the confluent mean VWAPs aforementioned
It is in this range that I will join the options activity for the time being. I will take a few calls
at each strike level as they are presently priced at $ 12- $ 32 per contract. I will also
take 10-20 shares of stock in a short position to provide a little risk-off hedging.
two sets of VWAP bands anchored back two earnings periods and so 3 months apart.
The mean VWAPs are confluent and so form strong support. I expect the price to
return to the early December high and test that level. In the past day a buying volume
aberrant spike was printed. The MACD lines have been crisscrossing under the histogram
signaling support of the cons9olidation of price with a series of Doji candles before the
final engulfing green dandle. Of interest, the next expiration of the options is February 16th.
On that date the dominant option strikes are %5.00 , %5.50 and $6.00
$5.00 is the present level for the strong support of the confluent mean VWAPs aforementioned
It is in this range that I will join the options activity for the time being. I will take a few calls
at each strike level as they are presently priced at $ 12- $ 32 per contract. I will also
take 10-20 shares of stock in a short position to provide a little risk-off hedging.
Trade active:
Price up 6% over two days validates the trade. Running the full position over the
weekend with a view to take a partial on Monday at the high of day.
weekend with a view to take a partial on Monday at the high of day.