Today we'll analyze the Stock SIRI for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 3.31$ (02/01/08) to 2.73$ (03/14/08) a 0.58$ move
2- The current bullish trend started from 2.73$ at 03/14/08 and is currently trading at 2.90$.
3- The stock current support level is at 2.87 which is the 23.60% fibonacci retracement of the last 0.58$ move.
4- The stock current resistance level is at 2.95 which is the 38.20% fibonacci retracement of the last 0.58$ move.
5- According to ADX, the trend is currently bearish, which is getting stronger.
Short term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 3.31 and 3.83, and is currently resisting at 2.90556.
Mid term chart patterns :
7- The Stock was resisted by a resistance line, identified by two points: 3.31 and 3.83, and is currently resisting at 2.90556.
Long term chart patterns :
8- The Stock formed a 1.03$ height triangle.
Conclusion:
SIRI was trading in a bearish wave, which is becoming stronger .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .
Resistance Levels: 2.91, 2.95, 3.02, 3.09, 3.31, 3.47, 3.67.
Support Levels: 2.87, 2.86, 2.84, 2.82, 2.79, 2.74, 2.73,.
We Moved!!
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Shadi
Friday, March 21, 2008
Sirius Satellite Radio Inc. (SIRI) Technical Analysis
That's all for today ... thanks for reading the post,
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have a nice day,
Shadi
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