Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Sirius XM stock price (NASDAQ: SIRI) jumped 42% in a single day and hit a 52-week high.</a> </li> 
 <li> <span>2</span> <a>SIRI stock Price formed a strong base near $4.00 and took a sharp U-turn.</a> </li> 
 <li> <span>3</span> <a>Sirius XM Holdings scheduled next quarter earnings on Aug 1, 2023.</a> </li> 
</ul> 
<p>Sirius XM stock price (NASDAQ: SIRI) jumped 42% in the previous session and hit a 52-week high at $7.95. SIRI stock’s breakout of the $7.00 hurdle level with a high buying volume. It can either be a short squeeze or a genuine buying.&nbsp;</p> 
<p>Sirius XM stock price succeeded to climb above the 50-day and 200-day EMA. It indicates the positional trend has reversed upward and bulls dominance is visible. However, it will be interesting to see how prices react in the coming few weeks.&nbsp;</p> 
<p>SIRI stock price consolidated for a long time in the narrow range between $3.40 to $4.13. It formed a strong base near $4.00 before picking up momentum.&nbsp;</p> 
<p>At the beginning of July 2023, SIRI stock broke the higher range of consolidation which triggered the positive sentiment. Later, prices began to rise by forming higher highs and rallied 91% approx in a short span of time.&nbsp;</p> 
<p>The momentum is still intact and buyers seem more active as compared to sellers. Sirius stock price closed the previous session at $7.81 with an intraday rise of 42.26%. The market capitalization stands at $30.21 Billion.</p> 
<h2 class="wp-block-heading" id="strong-sirius-xm-stock-rallied-ahead-of-quarterly-earnings-strong"><strong>Sirius XM Stock Rallied Ahead of Quarterly Earnings</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/hXbTNNWytjLvljMTF6zy0O6_DJT_LCDmdN8Rc5Ze47hSOLrh24U9opKdS95BtBxmoup8m-7dyI0ohayjouyMZ5iq8ydGSh7dqIA10RSfIZnOqH9mOpzoqZhm9RBPCKXmWosNflh0T_ixsZmKgo4QMIY" alt="Sirius XM Stock Jumped 42%; Short Squeeze Triggered in SIRI Stock"> 
  <figcaption class="wp-element-caption">
    NASDAQ: SIRI Daily Chart by <a href="https://www.tradingview.com/x/Un4dkRRv/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Sirius XM stock price outperformed its peers and showed a surprising rally from the lower levels. The recent rally is due to a short squeeze so the sustainability of higher levels remains doubtful.&nbsp;</p> 
<p>The next quarterly earnings of Sirius XM Holdings are scheduled on&nbsp; August 1, 2023. Market analysts estimated an EPS of 0.075 and revenue of $2.241 Billion. If the company succeeds to meet the estimates, then more upward momentum is possible in the stock.&nbsp;</p> 
<p>However, the stock prices had rallied a lot as short-term profit booking might also trigger. The technical analysis suggests SIRI stock is in bulls’ grip but consolidation is needed for holding the higher levels.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-siri-stock-showed-v-shape-recovery-strong"><strong>SIRI Stock Showed V-Shape recovery</strong></h3> 
<p>SIRI stock price takes a U-turn from the demand zone and shows a V-shape recovery. The broader market index Dow Jones and Nasdaq composite is also in recovery mode which positively impacts the sentiment of investors.&nbsp;</p> 
<p>Till SIRI stock sustains above $5.00, the prices are expected to remain in the bulls’ grip. Any short-term correction will be easily absorbed by the buyers. The MACD curve displayed a positive crossover indicating bullish momentum might continue.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2022/07/12/helium-network-outage-solved-in-few-hours/" target="_blank" rel="noopener noreferrer nofollow">Sirius XM stock price (NASDAQ: SIRI) </a>jumped 42% ahead of quarterly earnings. The recent rally in SIRI stock is due to a short squeeze. So, buyers might face difficulty to hold higher levels.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Resistance levels: $8.13 and $9.00</li> 
 <li>Support levels: $6.00 and $5.65</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Sirius XM Stock Jumped 42%; Short Squeeze Triggered in SIRI Stock

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Thecoinrepublic.com

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