SiriusXM constrained after exiting ascending price channel - Analysis - 14-08-2018

Sirius XM Holdings' stock rose in the intraday levels, with positive signals from the RSI, while the stock is weighed down by exiting the ascending price channel that guided recent short-term trading, with negative pressure from the 50-day SMA, while the stock attempts to form a harmonic pattern in the short term, the Lightning Bolt pattern. 

Therefore we expect the stock to return lower, especially if the support of 6.85 was breached, targeting the next one at 6.19.