Sirius XM Holdings Inc (SIRI)

[dmlabuda]

The market seems to have found support here and the oscillators are flashing oversold readings so, I think it is realistic to expect a bounce in the price. But, I don't think it will do much because a double top generally requires at least a three wave movement down and we only have one so far. There appears to be a small GAP at $2.23 and I believe we will see a second wave up back to that GAP which should prove to be resistance and then a third wave down will most likely find support around $1.90 or possibly $1.80 depending on where the market becomes oversold again. It's hard to call the market swings in between the tops and bottoms so, I don't guarantee any of this conjecture but, it's certainly possible. There are no clear signals to buy or sell here so the sell signal from the double top continues to remain in force.