Tuesday, November 14, 2006
Ant & Sons: XMSR Nears Technical Breakout
November 14, 2006,
www.antandsons.comXM Satellite Nears $14.00 Technical Breakout
XM Satellite Radio Inc. (NASDAQ: XMSR) is approaching $14.00 long-term technical resistance. XM shares have rallied nearly 40% since its late October low, mirroring a similar recovery after it made a new low in late July. It appears now that a double bottom has formed and that if momentum can hold steady XM shares could launch an assault on the $14 resistance level. With XM posting a narrower loss, and ongoing speculation that Sirius Satellite Radio Inc. (NASDAQ: SIRI) could make a bid for its satellite rival, XM does have the bulls on its side.
11/14/2006 02:42:00 PM
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