Sina (NASDAQ:SINA) traded at a new 52-week low today of $41.86. So far today approximately 7 million shares have been exchanged, as compared to an average 30-day volume of 2.5 million shares.
In the past 52 weeks, shares of Sina have traded between the current low of $41.86 and a high of $80.80 and are now at $42.53. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.8% while the 200-day MA has slid 0.5%.
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 $42.53, or 32.8% below the average consensus analyst price target of $63.29. The stock should run into initial resistance at its 200-day moving average (MA) of $57.90 and subsequent resistance at its 50-day MA of $58.01.