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Friday, November 5, 2010

SIRIUS XM Radio Inc (SIRI) Basing at $1.50

By Tim - http://daytradingstockblog.blogspot.com

SIRIUS XM Radio Inc. (SIRI) Stock Chart - The following is technical analysis for SIRIUS XM Radio Inc. (SIRI) - November 5, 2010

SIRIUS XM Radio Inc. (SIRI) Support & Resistance Levels - 11/5/10

Resistance Levels: $1.60, $1.66

Support Levels: $1.43, $1.37

Chart - http://www.stockcharts.com

SIRIUS XM Radio Inc. (SIRI) reported earnings yesterday which caused a sell off in the stock. SIRIUS XM Radio Inc. stock dropped to $1.43 before bouncing in late trade. SIRI is now forming a base above $1.50 which could cause the stock to start a new run. SIRIUS XM Radio will now have support located at $1.43 as well as $1.37. If these two levels are broken, I expect the stock to fall into the $1.20's. On the upside, SIRIUS XM Radio will hit the first wave of resistance at $1.60.

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