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Stock Investors Sell Off Shares of Sina, Down 1.4%

Published on Tue, 02/12/2013 - 11:30
By Robert Cotter

Sina (NASDAQ:SINA), a company whose shares are moving quickly, is trading 1.4% lower to $52.46. The S&P is currently trading fractionally higher to 1,518 and the Dow Jones Industrial Average is trading fractionally higher to 13,994.

In the past 52 weeks, shares of Sina have traded between a low of $41.14 and a high of $80.80 and are now at $52.46, which is 28% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Sina has overhead space with shares priced $52.46, or 14.7% below the average consensus analyst price target of $61.51. The stock should find resistance at its 200-day moving average (MA) of $53.80, as well as support at its 50-day MA of $50.66.

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 Robert Cotter
rcotter@fnno.com