As a technical trader I don't really care about the news. Instead, I utilize the stock technicians crystal ball (Charts) to see the future ahead of everyone else. Take a look at the chart above. It is the weekly chart for Sirius XM Holdings Inc. (NASDAQ:SIRI). Note how it made a high of $4.18 during 2013, putting a classic topping pattern in place. Since then, the stock has been drifting lower. It is now consolidating in a manner, and within the next couple of weeks I expect it to break down. Could more news of CarPlay be the catalyst for the decline? I'm not sure, all I know is that the chart is giving us a peek into the future of Sirius XM Holdings Inc. (NASDAQ:SIRI) and it does not look bright. The levels to watch as it falls will be; $2.72 and $2.37 At those levels SIRI might get a few resuscitation attempts, however, once those levels break, it will go a lot lower.
Please feel free to leave your comments below and let me know what you think will be the catalyst for the death of Sirius XM Holdings Inc. (NASDAQ:SIRI).
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