Shares of Sina Fall Below Previous 52-Week Low

Published on Wed, 03/11/2015 - 14:53
By Peter Chu in 52 Week high-lows, SINA, 52 week high/lows, nasdaq:sina, sina

Shares of Sina (NASDAQ:SINA) traded at a new 52-week low today of $34.27. This new low was reached on above average trading volume as 2 million shares traded hands, while the average 30-day volume is approximately 652,000 shares.

Over the past year, Sinahas traded in a range of $34.27 to $72.44 and are now at $35.37. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.3%.

SINA Corporation is a global Internet media company operating Chinese-language destination sites. The Company offers a network of branded content and services targeting people of Chinese descent worldwide. SINA.com offers online news, entertainment, community, and commerce through web sites that are produced and updated by local teams in China, Hong Kong, Taiwan, and North America.

Sina has overhead space with shares priced $35.37, or 37.9% below the average consensus analyst price target of $57.00. The stock should find initial resistance at its 50-day moving average (MA) of $36.99 and further resistance at its 200-day MA of $41.91.

By Peter Chu
pchu@fnno.com

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