Sirius XM Radio (NASDAQ:SIRI) stock endures significant consolidation as it drags itself forward
Sirius XM Radio (NASDAQ:SIRI) stock has endured significant consolidation for one day shy of two weeks of trading now. This is actually one of the longer “inside bar” technical formations witnessed in a good while. For nine days worth of trading SIRI has been unable to break free of November 18th’s daily high and low.
However, a rough, ‘sketchy’ ascending triangle can be painted over the current trend. It’s not perfect, which is why it was called rough, take a look at the image which can be expanded. Price action in general also shows clear bullish bias, but there has been absolutely zero momentum to be found so far. Sirius XM’s stock might actually get somehow if it can manage to exceed the $1.42 price level barrier.
SIRIUS XM Radio Inc. (SIRI) is a satellite broadcasting company, delivering radio content from orbit down to Earth for residential and business subscribers of the service. The company has no natural competitors in its business sector, frustrating investors with a severe lack of price action volatility compared to other prominent NASDAQ listed companies. Radio content includes talk shows, and music from jazz to hard rock and everything in between.
The company has a market value of $5,346,918,500 at the time of writing, with 3,888,668,000 shares outstanding.