SAIFUN SEMICONDUCTOR: The Losing Streak Continues (SFUN)
Shares of SAIFUN SEMICONDUCTOR (NYSE:SFUN) traded at a new 52-week low today of $3.31. This new low was reached on below average trading volume as 688,000 shares traded hands, while the average 30-day volume is approximately 2.9 million shares.
SouFun Holdings Ltd. operates real estate and home furnishing and improvement Internet websites. The Company offers marketing, listing and other services and products for China's real estate and home furnishing and improvement sectors.
There is potential upside of 147.8% for shares of SAIFUN SEMICONDUCTOR based on a current price of $3.38 and an average consensus analyst price target of $8.38. SAIFUN SEMICONDUCTOR shares should first meet resistance at the 50-day moving average (MA) of $5.75 and find additional resistance at the 200-day MA of $6.29.
SAIFUN SEMICONDUCTOR share prices have moved between a 52-week high of $10.01 and the current low of $3.31 and are currently at $3.38 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.
SmarTrend recommended that its subscribers protect gains by selling shares of SAIFUN SEMICONDUCTOR on June 6th, 2016 by issuing a Downtrend alert when the shares were trading at $5.17. Since that call, shares of SAIFUN SEMICONDUCTOR have fallen 35.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows saifun semiconductor