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, digital
products reviews, luxury goods and services, collectibles, and video
products, as well as an interactive platform for fashion-conscious users
to share comments and ideas on health, cosmetics, and beauty topics.
The company also offers SINA mobile, a mobile portal, which provides
news information and entertainment content from SINA.com for mobile
users in mobile browser and application format.
Take a look at the 1-year chart of Sina (Nasdaq: SINA) with the added notations:
Although it has taken some pauses along the way, SINA has been on an
overall decline for the entire year. And during the last 3 months, the
stock had also created an important level of support at $35 (red). Now
that the stock has broken that support, lower prices should follow.
The Tale of the Tape: SINA broke a key level of
support at $35. A trader could enter a short position on any rallies up
to or near $35 with a stop placed above the level. If the stock were to
break back above the $35 level, a long position might be entered
instead.
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