Chart of the week : Sirius XM Radio Inc (NASDAQ:SIRI)

Discussion in 'Stocks' started by miguel007, Oct 14, 2012.

  1. The stock had a nice bounce on Friday, as this could be the start of a possible breakout move. Volume was on the light side, but once the stock breaks out we will see an upturn in buying. From a technical standpoint the technical indicators are looking stronger. All the three major moving averages are moving up, as the stock makes higher tops and bottoms. The 20-day sma has started moving away from the 50-day sma and both remain well-above the 200-day sma. The slow stochastic has entered the overbought level while the RSI is at 66. The MACD continues moving nicely above the signal line and in positive territory. The overall rally is not losing steam. I will be watching the stock again on Monday for a follow through. On the upside, the level to beat is $2.79, which is the 52-week high.

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