THE FIRST GREEN CANDLE STICK BROKE OUT OF ITS RESISTANCE (SEE BULLISH FLAG). SEEMS TO ME THAT THIS STOCK MIGHT BE READY FOR ANOTHER RUN UP. THIS IDEA IS FURTHER BACKED BY THE FACT THAT THE GRAPH ALREADY BOUNCED OFF THE 50.0% FIBONACCI SUPPORT LEVEL AND IS HEADED TOWARDS MY TARGETED PROFIT AREAS OF 88.6%, 100.0%, AND 128.0%.
Siri has formed a head and shoulders pattern after a strong uptrend since it was $0.04 in February of 2009.
Some notes:
- Monthly indicators show the stock is well overbought and due for a pullback. Daily indicators show the stock is oversold after pulling back from $5.53 (52 week high). I would look for the stock to consolidate momentum near the neckline prior...
Price broke above BB and has now closed below. In addition to breaking BB, price has also settled below 20MA. Therefore, I have placed a 30 day put option (APR17) with expectation that price will reach the 200MA before expiry. However, I reserve the right to take profit at anytime before then.
Max risk is $78.49.
I've been watching this one for a few days. Was stopped out of HBAN yesterday, so looking at this for a setup. Good breakout from the sideways movement over the last few weeks. Looking to play the retest.
Honestly, I didn't even know Sirius XM was a publicly traded company until 6 months ago. Mainly because it's under $5, and I generally tend to avoid such stocks after getting burned in the penny stock world so many years ago. But SIRI is an interesting ticker, and one we recently acquired quite a sum of shares in for the long run, and by long run, I mean...
The price just broke an support and we have a downtrend too. The RSI14 is in downtrend. I think that the trand will touch the white line and after it may come up.
Entry price: 4.14$
TP: 4.00$
SL: 4.24$
Looks bullish if SIRI can pop above this triangle formation, down at major support and accumulating in a tighter range. Keep an alert around 4.25 for a bullish move. That would give a 2:1 RR before filling the bearish gap.
SIRI is in a key level on daily chart, reaching a strong area to break. If it goes above this area a strong upside is possible, otherwise a pullback to the rising trendline.
H&S...Flag..1-2-3....all seems bullish for me.
There are clear trading marks/action Points:
Stoppsell with Prices < 3.7 --> tp could be 3.3
Stopp buy with Prices > 4,05, TP could be 4.5/4.75
