Stock Investors Bid Up Shares of Sina, Up 2.5%

Published on Mon, 12/31/2012 - 13:27
By Peter Chu in Market movers, SINA, market movers, nasdaq:sina, sina

Sina (NASDAQ:SINA) is one of today's notable stocks on the rise, up 2.5% to $49.54. The Dow is up 0.7% to 13,025 and the S&P is currently up 0.9% to 1,416.

In the past 52 weeks, Sina share prices have been bracketed by a low of $41.14 and a high of $80.80 and are now at $49.54, 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 2%.

Potential upside of 24.3% exists for Sina, based on a current level of $49.54 and analysts' average consensus price target of $61.60. The stock should run into initial resistance at its 50-day moving average (MA) of $50.00 and subsequent resistance at its 200-day MA of $55.34.

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.

By Peter Chu
pchu@fnno.com

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