Hot Stock Alert!
Major Buy Signal issued for Serious Satellite Radio , NASDAQ symbol (SIRI), with stock analysis by Neil M. Pine, Senior Technical Securities Analyst for Reliance Management Corp. LLC, and formally a Federally Registered Investment Adviser.
Share price: Last traded 4/29/16 at $3.95
· The share price is currently trading above its 20, 50,and 200 day moving averages
· LEADING INDICATOR! The On Balance Volume ratio is in record territory even though the price is still beneath 12 month highs, suggesting that the stock is heavily under accumulation.
· Stochastic indicator is in a neutral position (It has not reached over bought territory), suggesting the possibility of a powerful Technical High Volume Break Out from the horizontal trading configuration which has manifested the share price for more than 7 weeks! As you can see by the volume indicator, the highest volume day in the last 12 months was 85 million. This record share volume should be exceeded as the price breaks out to new highs. Mr. Pine has projected the stock to move to $5 in 1 to 7 weeks and to $7 within a year. That is a 75% annualized rate of return!
· Money Flow indicator in an uptrend also suggesting momentum in the price.
· Chart Configuration also confirms an extremely Bullish pattern as the 7 weeks of horizontal consolidation in the price combined with the old highs established in late 2013, has formed a powerful Ascending Wedge Formation which historically is conducive toward this powerful break out!
· Election Years have historically been very powerful for the overall markets and this goes especially true media stocks. This year will be no exception as some of the most controversial and prolific candidates in history are making their debuts in the midst of the most dynamic and ubiquitous saturation of information technology in recorded history! People are following the election coverage through so many forms of media and from multiple devices.
· Serious Radio’s “Shock Jock,” Howard Stern, has been interviewing Donald Trumph and many other candidates. Being from New York, Stern (One of the most popular, albeit provocative television and radio personalities in history), has developed an ongoing relationship over the years with Trumph (One of the most controversial and popular presidential candidates in history!) They are both experiencing much notoriety from this relationship.
· EPS (Earnings per share): The stock has had 4 consecutive quarters of earnings growth
· Revenue: Gross sales have increased in the latest quarter to record levels! Except for only 3 quarters, the revenue has increased for the last 40 consecutive quarters over a 10 year period!
Neil M. Pine is also a regular journalist for Jet Setting Magazine and is author of The Conscious Planet: A Vision of Sustainability, Peace and Prosperity TheConsciousPlanet.org
One Year Graph
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