Shares of Sina Rise Above Previous 52-Week High
Sina (NASDAQ:SINA) traded at a new 52-week high today of $84.33. Approximately 994,000 shares have changed hands today, as compared to an average 30-day volume of 611,000 shares.
In the past 52 weeks, Sina share prices have been bracketed by a low of $32.61 and a high of $84.33 and are now at $84.18, 158% above that low price. The 200-day and 50-day moving averages have moved 0.35% higher and 1.13% higher over the past week, respectively.
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.
Sina (NASDAQ:SINA) is currently priced 33.8% above its average consensus analyst price target of $55.70. The stock should find initial support at its 50-day moving average (MA) of $47.71 and further support at its 200-day MA of $45.07.
SmarTrend recommended that subscribers consider buying shares of Sina on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.29. Since that recommendation, shares of Sina have risen 53.6%. We continue to monitor SINA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows