Sirius XM Holdings Inc. (NASDAQ:SIRI) gained 0.37% in yesterday’s session, going up from its prior closing price of $5.42 to $5.44. The price has been moving in both directions for this period, and there has been a -4.56% loss over 10-day period. Trading activity decreased by -11.68 million shares, and in total, 15.19 M shares exchanged hands for about $82.65 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.
Inside SIRI’s Recent Trend
Sirius XM Holdings Inc. (SIRI) lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down through the resistance trend line at $5.43 will initially suggest a lower tendency for gains in the price and this might very well be an early sign that a trend shift is coming. Short-term traders are predicted to see a rally of 6.3% over the course of a quarter and, with 90% chance the price will be floating in the range of $5.77 and $6.42 in this timeframe.
Sirius XM Holdings Inc. Technical Signals
SIRI has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $5.52 and $5.61. A buy signal will be generated if it crosses above any of these levels.
Sirius XM Holdings Inc. (NASDAQ:SIRI) Support And Resistance Levels
Sirius XM Holdings Inc. (SIRI) recorded volume accumulation so there will probably be a surplus of buyers at $5.39. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $5.47, $5.48 and $5.83.
Accumulated volume is going to prevent the price from rising further at $5.47 and this action will lead the price to take a temporary pause or stay muted for a few days.
Sirius XM Holdings Inc. (SIRI) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.07 (1.30%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 2.22%.