Tickers in this Article: SIRI
For today's chart we've chosen to take a look at XM Satellite Holdings Inc. (Nasdaq:XMSR) because it is testing the support of a trendline that has propped up the price several times over the past year. As you can see from the chart below, the price of the stock has been forming a base since August 2006 and it will be interesting to see if the nearby support will be able to prevent a sharp move lower. We've also added the chart of Sirius Satellite Radio Inc (Nasdaq:SIRI), which has been in a sharp downtrend since early 2005. From a technical perspective, XM looks like it has a higher probability of heading upward. However, if the price moves below $10.50 then this outlook will change and we'll take a neutral stance on the sector.