Yahoo! Inc. (NASDAQ: YHOO), a digital media company, is marginally lower in mid-day trading today, reversing some of the gains from Monday. YHOO had finished more than 1.5% higher on Monday after analysts at Needham raised price target on the stock to $26. At last check, YHOO was trading 0.30% lower at $19.59 on volume of 5.35 million, which is well below the daily average volume of 24.49 million.
YHOO has traded in a very tight range over the past couple of weeks. Technical indicators suggest that the stock could see a pullback in the next few trading sessions. YHOO currently has support at around $19.50.
Groupon Inc. (NASDAQ: GRPN), a provider of daily deals in over 500 markets in 44 countries, is rebounding in mid-day trading today after falling sharply in the previous trading session. GRPN had fallen nearly 4% on Monday after the company announced the acquisition of CommerceInterface, a leading provider of web-based channel management technology.
GRPN is currently trading 4% higher at $4.82 on volume of 4.27 million, which is a fifth of the daily average volume of 20.56 million. GRPN has traded sideways over the past two weeks. The stock currently faces strong resistance at $5. If it breaks through this level then a bullish trend will be established.
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