Sirius XM Radio Inc. (NASDAQ:SIRI) stock rebounds from support after a moderate sized bearish gap formed on the market open during today's trading session
Sirius XM Radio Inc. (NASDAQ:SIRI) began trading today with a bearish gap during the beginning of normal market hours, however shares have rebounded from support of the $1.63 price level. SIRI has been consolidating since February and it continues to persist, however if support had not held up today a break to the downside of the consolidation channel would had been breached. SIRI, additionally, has yet to post a new high since the standing 12-month high of $1.88 per share.
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. Radio content includes talk shows, and music from jazz to hard rock and everything in between. The company has no natural competitors in its business sector. Currently, it has a market value of $6,510,770,000 at the time of writing with 3,934,000,000 shares outstanding.