SIRI Accumulation
By Johns Wu on Aug 28, 2005
Sirius Radio looks like it might be under accumulation. The MACD is falling hard but the price isn’t really taking a hit at all. This kind of divergence may be a sign that SIRI is being accumulated by institutions.
It looks like big buyers are scooping up shares around $6.50 but preventing the stock from running up beyond $7.00.
This could be a good longterm play, so I might open a limit buy ticket on a few LEAPS options to pickup some 7.50 calls whenever the price dips down.
2 Responses to “SIRI Accumulation”
I would agree that this stock is setting up nicely… look at a one-year chart and you’ll see that on that time scale the MACD is screaming BUY. However, I don’t see the volume to support an accumulation thesis. But maybe a cup-and-handle formation and an impending break-out on good news. LEAPS sound good.
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When would it be a good idea to buy siri?