SIRI ends the day indecisive


Sirius XM Holdings Inc. (SIRI) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
SIRI unable to break through key resistance level
SIRI fails to close above 20-day moving average
SIRI runs into sellers again around 7.03
SIRI closes within previous day's range
SIRI ends the day indecisive
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

SIRI ended the week 1.31% higher at 6.96 after losing $0.04 (-0.57%) today on low volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for SIRI
Volatility

Friday's trading range was $0.13 (1.87%), that's slightly below last trading month's daily average range of $0.14. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Support/Resistance

Unable to break through the key technical resistance level at 6.99, Sirius XM closed below it after spiking as high as 7.03 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move above 7.05 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 7.03. After spiking up to 7.03 during the day, the stock found resistance at the 20-day moving average at 7.02.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Buying could speed up should prices move above the nearby swing high at 7.05 where further buy stops might get activated. Selling could accelerate should prices move below the close-by swing low at 6.84 where further sell stops might get triggered. Further selling could move prices lower should the market test July's nearby low at 6.72.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Sirius XM Holdings Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Close near low of period TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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