Sellers Reduce Exposure to Shares of Perfect World on 1.4x Above-Average Volume (PWRD)

Published on Mon, 01/07/2013 - 14:12
By Robert Cotter in Unusual volume, PWRD, nasdaq:pwrd, perfect world, unusual volume

Perfect World's stock is down 0.8% to $12.58 on heavy trading volume. Approximately 461,000 shares have changed hands today vs. average 30-day volume of 332,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

In the past 52 weeks, Perfect World share prices have been bracketed by a low of $8.44 and a high of $17.46 and are now at $12.58, 49% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.9%.

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

Perfect World (NASDAQ:PWRD) has potential upside of 9.4% based on a current price of $12.58 and analysts' consensus price target of $13.76. The stock should discover initial support at its 200-day moving average (MA) of $11.18 and subsequent support at its 50-day MA of $10.80.

By Robert Cotter
rcotter@fnno.com

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