Shares of Perfect World Under Pressure, Down 2.5%

Published on Mon, 02/04/2013 - 13:28
By Robert Cotter in Market movers, PWRD, market movers, nasdaq:pwrd, perfect world

Perfect World (NASDAQ:PWRD) is a company whose shares are active, trading 2.5% lower to $11.63. The S&P is trading lower by 0.9% to 1,500 and the Dow is trading 0.8% lower to 13,895.

Perfect World Co Limited develops and operates online games. The Company primarily develops 3D gaming technologies.

Perfect World has overhead space with shares priced $11.63, or 17.4% below the average consensus analyst price target of $14.08. The stock should discover initial support at its 50-day moving average (MA) of $11.24 and subsequent support at its 200-day MA of $10.88.

In the past 52 weeks, shares of Perfect World have traded between a low of $8.92 and a high of $17.46 and are now at $11.63, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.2%.

By Robert Cotter
rcotter@fnno.com

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