Viewer Mail - SIRI

Mike J. writes "X, I know you are a big Howard fan. How about letting us know what the SIRI chart looks like. (or Tom C.)

Thanks and I love the blog!"

answered by Tom C:

Mike, IMO (again, MY OPINION), SIRI is neutral right now. Here are the positives and negatives, using a weekly chart:

Negatives - a lot of overhead resistance:
1.) It is below the retracement zone from the 2005 low to high.
2.) It is below the 34MA.

Positives:
1.) It bounced off the 200MA.
2.) It closed back above the 2005 low.

I think if it closes above the mid-6's, it can run to 9+. But it has a lot of work to do to get to the mid-6's!




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Tags:
Trader-X, Stocks, Fibonacci, Trading, Sirius