New York, NY -- (ReleaseWire) -- 11/15/2012 -- Sirius XM Radio Inc. (NASDAQ:SIRI), the New York City-based satellite radio company, is down sharply in mid-day trading today. At last check, SIRI was trading 4.44% lower at $2.58 on volume of 45.44 million, which is below the daily average volume of 81.87 million.
SIRI has slipped after hitting the $2.80 resistance level. The stock has now fallen below its 50-day moving average, which is a bearish signal. The sharp drop in today’s and Wednesday’s trading has been accompanied by significant volume, which further confirms the bearish trend.
SIRI announced on Wednesday that it will broadcast 2012 Formula 1 United States Grand Prix on November 18.
Find out if SIRI could pick up steam and bounce back by reading the free trend analysis report here: SIRI, Trend analysis report
Intel Corp. (NASDAQ:INTC), the global semiconductor company, is another major mover on the NASDAQ in trading today. INTC is currently trading 0.90% higher at $20.14 on volume of 22.79 million. INTC is rebounding from close to its 52-week low of $19.95, which is also a support level for the stock.
If INTC can break through $20.5 then a bullish trend will be established. However, the volume activity in trading today suggests that the trend might not last for long.
INTC, like other chipmakers, has been struggling due weakness in the PC market and the global economy.
Get the full trend analysis report on INTC here: INTC, Trade trend analysis report
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