Thursday, December 10, 2015


Sina Corporation, through its subsidiaries, operates as an online media company in the People’s Republic of China. It operates, an online brand advertising portal that provides region-focused format and content, including multimedia news; sporting events news; automobile-related news; business news coverage and personal finance columns; entertainment news and events; technology updates; interactive video products, such as news, sports, entertainment, and education; and education, digital, fashion, eLadies, luxury, health, collectibles, travel, and other interest-based channels.
Take a look at the 1-year chart of Sina (NASDAQ: SINA) below with my added notations:
1-year chart of Sina (NASDAQ: SINA)
SINA has hit the $52.50 mark (red) as resistance multiple times in the past month. In addition, the stock has been climbing a trend line of support (green) since mid-November. Eventually, the stock will have to break either the $52.50 resistance or the trendline support.

The Tale of the Tape: SINA is winding up between two key levels. A long trade could be made at the trendline support or on a break above $52.50. A break below trendline would be an opportunity to enter a short trade.

No comments:

Post a Comment