Downgrade Alert for Sina (SINA)
Sina (NASDAQ:SINA) was downgraded from Buy to Hold at Stifel today. The stock closed yesterday at $41.85 on volume of 1.4 million shares, below average daily volume of 1.4 million.
Sina share prices have moved between a 52-week high of $89.79 and a 52-week low of $36.51 and closed yesterday at 15% above that low price at $41.85 per share. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 0.8%.
Sina has overhead space with shares priced $41.85, or 33.7% below the average consensus analyst price target of $63.14. Sina shares should encounter resistance at the 200-day moving average (MA) of $50.72 and support at the 50-day MA of $41.71.
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.
SmarTrend recommended that its subscribers protect gains by selling shares of Sina on July 10th, 2014 by issuing a Downtrend alert when the shares were trading at $45.74. Since that call, shares of Sina have fallen 8.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades