Last week, we observed the completion of a head and shoulder pattern in the price action of SIRI stocks. This week, we are seeing the breakout reversed. The fact that it is a failed price top suggests that bulls are still in charge, and that we should continue to look for upside in SIRI. SIRI 4H Chart(click to enlarge)Maintaining Bullish Outlook:- While the head and shoulders pattern was a sign that price could be extending a period of consolidation and turn bearish in this consolidation, other signs remain bullish.- First of all, the RSI still held above 40 for the most part, which reflects maintenance of the bullish momentum.- More importantly, price has rebounded back above 5.00 and now above the 100-day simple moving average and a falling resistance.- A close above 5.21 should add to the bullish continuation outlook.- Another sign of bullish continuation could be support around 5.10 after a pullback. Indeed we might see some resistance at the 5.21 level, which was common resistance since February, but if price holds above 5.10 the bullish breakout would still be valid. - The 5.50 high is in sight in the short to medium-term, with a strong likelihood of extension above that because the prevailing uptrend since 2009 is still intact.