SIRI
On Thursday, July 20, 2023, the stock price of Sirius XM Holdings Inc. (
SIRI
) showed impressive growth, gaining 42.26% in a single trading day, soaring from $5.49 to $7.81. This marked the fourth consecutive day of gains for the stock, and investors are eagerly awaiting to see if the momentum will continue or if there might be a minor pause in the coming days. Throughout the trading day, the stock's price fluctuated significantly, ranging from a low of $5.43 to a high of $7.95, indicating substantial market activity. Over the last 10 days, the stock has experienced gains in 9 of them, accumulating a remarkable 75.9% increase over the past two weeks. Trading volume also saw a substantial surge on the last day, alongside the rising price, which is viewed as a positive technical signal. Approximately 94 million more shares were traded compared to the previous day, with a total of 125 million shares exchanged, amounting to approximately $973.72 million in transactions.
According to the current short-term trend, the stock is projected to rise by 26.20% over the next three months. There is a 90% probability that the stock will hold a price between $5.96 and $9.86 at the end of this three-month period.
In terms of technical analysis, the stock holds buy signals from both short and long-term Moving Averages, indicating a positive forecast. Additionally, the relationship between the two signals, where the short-term average is above the long-term average, also supports a buy signal. On potential corrections downward, there may be support from the lines at $5.43 and $4.30. However, a breakdown below these levels would issue sell signals.
Furthermore, a buy signal was issued from a pivot bottom point on Tuesday, May 09, 2023, and the stock has risen 128.36% since then. This indicates the potential for further upward movement until a new top pivot is found. Moreover, the 3-month Moving Average Convergence Divergence (MACD) also provides a buy signal. Additionally, the rising volume along with the price is considered a positive technical signal.
As with any investment decision, it's essential for investors to conduct thorough research and analysis before making any financial moves. While the recent performance of the stock appears positive, it's crucial to assess the company's fundamentals and market conditions before making any investment choices.