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Perfect World Crosses Above its 10-day MA (PWRD)

Published on Wed, 06/26/2013 - 11:52
By Robert Cotter

Perfect World (NASDAQ:PWRD) crossed over its 10-day moving average of $16.08 on a volume of 658K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Perfect World share prices have been bracketed by a low of $8.92 and a high of $17.25 and are now at $16.57, 86% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 2.4%.

Perfect World (NASDAQ:PWRD) is currently priced 20.8% above its average consensus analyst price target of $13.12. The stock should discover initial support at its 50-day moving average (MA) of $13.46 and subsequent support at its 200-day MA of $11.61.

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

By Robert Cotter
rcotter@fnno.com

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