Sina Corporation, through its subsidiaries, operates as an online
media company in the People’s Republic of China. It operates SINA.com,
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:
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.
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