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Shares of Sina Rise to a New 52-Week High

By Shiri Gupta

Shares of Sina (NASDAQ:SINA) traded today at $69.28, breaking its 52-week high. So far today approximately 418,000 shares have been exchanged, as compared to an average 30-day volume of 611,000 shares.

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.

In the past 52 weeks, Sina share prices have been bracketed by a low of $32.61 and a high of $69.28 and are now at $69.10, 112% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.1%.

Sina (NASDAQ:SINA) defies analysts with a current price ($69.10) 19.4% above its average consensus price target of $55.70. Sina shares have support at the 50-day moving average (MA) of $47.71 and additional support at the 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 27.5%. 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

Ticker(s): SINA