SIRI1 trade ideas
Sirius XM - A name everyone forgot 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... "buy em' when they're sleeping, sell em' when they're leapin" ... sleepers in dominant uptrends (above all major moving averages and overhead supply) are being accumulated. When the supply runs dry they end up exploding.
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$SIRI, strong Head and Shoulders pattern should carrySIRI 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.