SIRI added two consecutive prints today, both over 1m shares at 6.13. The price is right at the convergence of the 20SMA and down channel resistance. The daily strength looks good, but the longer term weekly is weak. I used a 5y chart to plat some support at 6.10, which is right where it closed….
XLE went down and AES also continued down with increasing volume. However, now its right at 22.7 support. I’m expecting some bounce off that. If there is and XLE doesn’t recover, short the remaining into the strength.
Today made a new ATH, but then reversed soon after. It closed at the low of the day on increasing volume. It’s heading for the next support level at 62.50. Watch to see how it reacts there. If it breaks, then the pivot at 59.80 is next.
Yesterday looks like it was a false move. Today got rejected above 18.50 resistance and closed at the low of the day on increasing volume from yesterday. I’m expecting another retest of the pivot arount 17.16. Depending on how it reacts there, add he remaining 40%.