-------- STOCKS TO WATCH - WEDNESDAY - NOVEMBER 23 -----------------
SIRI is setting up in a potential snap back pattern. SIRI has been in a Stage 2 uptrend and after setting a recent price high, has consolidated over the last few days, down into a minor price support level and above a rising 20 day moving average. Monday's candlestick pattern is showing a bottoming tail and that was followed yesterday by a narrow range bar inside the previous day's trading range. This is a bottoming type pattern that suggests we may see a reversal here. I have made notes on the accompanying chart. Note the high volume, professional gaps followed by a bullish consolidation, then a break out off that consolidation. Price has retraced back to that consolidation and this is a logical place for price to reverse.
stockcharts.com[h,a]daclyiay[d20050922,20051122][pb20][vc60][ilah12,26,9!lc20][J63381051,Y]&listNum=1
Entry target $7.25. Price target $7.90. Initial stop loss $7.01.
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GCI (short). GCI is setting up in a break down pattern. GCI has been in a steep Stage 4 down trend. Price tried to rally off the October lows and on 11/15, price formed a high volume, professional bearish gap, establishing a new resistance level on any attempt to rally. Price has made two attempts at taking out that gap and failed. Friday saw a gap up in price at the open, only to see the stock sell off the remainder of the day. On Monday, price again attempted to rally into the gap and was met with more selling, forming a topping tail candlestick pattern. If price should fall below the support level drawn on the chart, you have to go all the way back to 2001 to find the next support level.
stockcharts.com[h,a]daclyiay[d20050922,20051122][pb20][vc60][ilah12,26,9][J63381257,Y]&listNum=1
Entry target $61.59. Price target $59.50. Initial stop loss $62.53.
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