source:kingofalltrades.com
The Daily chart shows where Siri broke down through the rising triangle back in May but so far has not broken through major support levels. Instead it is trading within a .10 cent channel between .95 and 1.05 and has broken back up through a short term down trend. The break upward is not very significant because of the low volume, hence the channel. Considering the state of the market I think a channel is good news.
Moving to a simple weekly chart we can see a wider scope on the stock action. It appears to be continuing its consolidation as indicated on the narrowing triangle pattern. Further confirmation is shown in the way that the volume is tapering off again.
