Sirius XM Holdings Inc (SIRI)

[dmlabuda]

At present, the first resistance point is what most of the world would refer to as the 20-day simple moving average (I use a 19.38 exponential moving average) which is approximately $1.60/$1.61. The biggest resistance obstacle is a combination of the base of the descending triangle and the 29-day EMA currently at $1.65/$1.66. Above that, I see three other dynamic resistance points in the moving averages that I use and if you were to extend the top side of the descending triangle it also becomes dynamic resistance. Fixed resistance from previous support/resistance points are $1.75, $1.85 and $1.95. So at the present time, there is a lot of resistance between $1.60 and $1.95 to be overcome for the price to advance higher. The downside is definitely the path of least resistance (resistance in the form of support) and the path of least resistance is where the price usually goes.