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Xinhua Sports & Entertainment Falls 6.45% on Heavy Volume: Watch For Rebound (XSEL)

Written on Tue, 07/13/2010 - 3:38am
By Chip Brian

Xinhua Sports & Entertainment (NASDAQ:XSEL) traded in a range yesterday that spanned from a low of $0.29 to a high of $0.34. Yesterday, the shares fell 6.45%, which took the trading range below the 3-day low of $0.29 on volume of 103,000 shares.
Shares of Xinhua Sports & Entertainment are currently trading below their 50-day moving average (MA) of $0.40 and below their 200-day MA of $0.82. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Xinhua Sports & Entertainment and our subscribers were alerted to Sell on May 11, 2010 at $0.44. The stock has fallen 34.1% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $0.29 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Advertising & Marketing industry.

Contact Chip Brian
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