Sirius XM Holdings Inc (SIRI)

[Mustache_rider]

I would like to thank those who post on this board... one of the more informative boards that I follow.

I would like to learn more about technical analysis before changing to or incorporating a trading strategy. Can anyone recommend a good read/text books regarding technical analysis?

I have been holding on to SIRI since 2008. The trend of this stock seems to be changing from its usual run up to the earnings call, price drop... rinse and repeat. I would like to start trading SIRI but my gut tells me to sit on the sideline for now and see how the next couple of months/quarters pan out.

Regarding RSI, I found a calculator online and just want to make sure I understand how to read the numbers.

Range is 0 to 100 and important signals occur between readings of 30 and 70.

Prepare to trade as the indicator gets closer to 30 and do not buy a stock when it drops below 30.

Prepare to trade stocks that have been in a trend and have risen above the 70 threshold. However, do not trade the security until it falls below the threshold.

Look for RSI divergence (i need help on this one)- Bullish divergence is when a stock price makes a lower low than in previous trading (i understand this part ) and the RSI indicator makes a higher low (does this mean a higher reading above 30 but below 70). Bearish divergence is when a stock makes a new high (i understand this part) but the indicator does not (does this mean it has to be below 70).