Sirius XM Radio Inc (SIRI) Technical Analysis

Rob Witt

http://www.learnstocks101.com

Sirius XM Radio (SIRI) has broken out recently making new high after new high. The best way I know to determine where this may run into some resistance is a Fibonacci retracement. As you can see it broke through the 161.8% (1.35) level today on good volume. This means a couple things. If you enter support would be 1.35. Resistance would be 1.60 which is the 261.8% level. Breakouts are always tough to play because you don't want to chase and you don't want to miss a move. Therefore, depending on how you like to play thing you can take a chance and take profit at 1.60 area or wait for a pull back.

There is really no reason to discuss the other indicators because after a run like this they are all bullish and even maybe a little too high. Thanks for visiting our site and request a free trial if you want to look around.

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http://www.learnstocks101.com/images/sirius-xm-radio-inc-siri