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Youku.com Shares Sinking Lower, Down 1.9%

Published on Fri, 03/22/2013 - 10:29
By Adrienne Chilton

One of today's stocks on the move is Youku.com (NYSE:YOKU), down 1.9% to $17.13. The Dow Jones Industrial Average is now trading 0.5% higher to 14,494 and the S&P is trading 0.5% higher to 1,554.

Youku.com Inc. is an Internet television company. The Company's Internet television platform enables consumers to search, view and share video content quickly and easily across multiple devices in the People's Republic of China.

Over the past year, Youku.com has traded in a range of $13.82 to $28.40 and is now at $17.13, 24% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1%.

Potential upside of 33.5% exists for Youku.com, based on a current level of $17.13 and analysts' average consensus price target of $22.87. Youku.com shares should first meet resistance at the 200-day moving average (MA) of $19.30 and find additional resistance at the 50-day MA of $20.63.

By Adrienne Chilton
achilton@fnno.com