SIRI1 trade ideas
SIRI bull flag breakout, triple toSIRI looks like it's formed a bull flag which it's about to break out of. SIRI's fundamentals look pretty good. Analysts are recommending to buy it. $6 is a natural support/resistance, and it has snuck above it a couple of times.
I'm planning on entering in with a medium size position at $6.00.
My risk is $5.85 (2.5%). I'm hoping for it to go up to around $6.70, which is about 11%.
$SIRI Sirius XM On Breakout Alert Sirius XM Holdings, Inc. is a radio company. The company offers music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services. Its brand channels include SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation and SiriusXM Marine. The company was founded in 1990 and is headquartered in New York, NY.
SIRIUS XM Rolling Stone?Long term:
LLLH + Y1<Y2
there is power down, fibo hit down as well
it will be a rolling stone if reversal down succeed @ 5.11
T1<T2
W&R down criteria #1. NO reversal signal confirmation yet. Is better to wait for retrace to complete first
Short term:
LLLH
X2 hasn't appeared yet
wait for reversal signal
TP @ 1.41
SL @ 7.73
LONG FOR BREAKOUT 1. There is obvious forming of ascending triangle with higher lows as circled in the chart
2. Each of these lows are supported on the trend line
3. On top of this the current candles are in consolidation and the 20 EMA which supports it adds more confluence for a potential breakout towards upward trend
4. MACD and ATR both shows low volatility and it is the best price to buy now for those who seek for capital appreciation
5. Golden cross is tested where 50 EMA is close to crossing above 200 EMA and it signals a strength of upwards trend, this better supports the upward breakout that is about to happen
6. Bollinger indicator shows the current consolidation to be very thin and this signals a potential breakout that will happen soon.
Buy at current price of $5.92 USD
Set stop loss at $5.59 USD( using 2 ATR below the recent previous low price)
Exit trade near current resistance or use fib extension which indicates $6.64 USD