During the rapid-fire "Lightning Round" segment of Mad Money Tuesday night, one caller asked Jim Cramer about Sirius XM Holdings (SIRI) : "I think you stay long this one," he answered. Let's tune into Margaritaville or the 60's channel and take a look at the charts.
In this daily bar chart of SIRI, below, we can see prices made a low in late March and then rebounded into early June. Prices have weakened since the June recovery high, and they are trading below the declining 50-day moving average line and below the declining 200-day moving average line.
The On-Balance-Volume (OBV) line stalled from June to August but has turned lower this month telling us that sellers of SIRI have turned more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator fell below the zero line in late August for an outright sell signal.
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In this weekly bar chart of SIRI, below, we can see that prices have been in a broad downward sloping channel since early 2018. Prices are trading below the declining 40-week moving average line.
The weekly OBV line is weak and the MACD oscillator just crossed to the downside from below the zero line for a fresh sell signal.
In this Point and Figure chart of SIRI, below, we used weekly price data. Here the chart is projecting a potential downside price target of only $2.
Bottom line strategy: I do not know what is driving the fundamentals of SIRI but the current condition of the charts and indicators are bearish.
