Based on my history Siri will soon be down trending reaching the top of the channel its been in.
The PEAD projected a Neutral outlook for $SIRI after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 72.73%.
This is one of the most beautiful weekly candles SIRI has had in months. Volume is increase and call options volume as well. Huge call buying on 6/18 $8 calls. If SIRI can break its previous ATH it can easily see $10.
SIRI gives me Blackberry vibes. No one paid attention to Blackberry and thought the bulls were crazy for getting long in the 5s and 6s. You could see some of the comments in this post on BB here from Aug 2020: Tightness in volatility is what traders look for. Especially multi-year consolidations like SIRI. In my first year as a stockbroker my boss said......
Bullish indicators - Current 6.6 Stops 5.0 Target 9.6 Strong resistance 7.5
$5.75-$5.60 range is strong support. A pull back and impulse upward is likely.
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SIRI has a nice head and shoulders pattern today, these patterns appearing after a long bullish trend is a good sign to continue bullish. The ATR is showing price action is leveling out and with all the room for growth in the RSI we think it will keep chugging along.
After getting impulse from support, SIRI will reach resistance and go down to support.
trading right below PoC. Stoch oversold. MACD about to flip over. Volume rising check. But watch out for the 100SMA, could reverse as its right on top. I would only trade if it breaks 100SMA.
This week looks like will hit support of 5.70/5.73 and than will go up towards 6 & 7
Shown redlines represent strong support lines. Stock is likely to get strong impulse and start bullish wave. Blue lines are likely points of resistance and taking profits