SIRI might be trying to form an inverse head and shoulders pattern with 6:38 as the neckline. This 6.38 area also served as resistance earlier this year. If price breaks through the neckline on increased volume, one might look for a target of 7.20, about a 12% increase as implied by the height of the head. Good luck; have fun.
Note
SIRI kissed the 6.38 level exactly at it's high on this overall awful day for US markets.Note
There appears to be a mini inverse H&S forming in the right shoulder of the main H&S with a neckline of 6.38.Note
I really thought today was going to be the day that SIRI closes above the neckline and triggers a buy signal. It tried but failed and volume was average.Note
It appears that the two H&S patterns have proven invalid. We still have a rising wedge with resistance at 6.38 though.Note
So much for the wedge and two H&S patterns. SIRI became a short when it broke through the ascending wedge. Reasonable target would be the bottom of the large head. I'm sitting this out still.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.