This Chinese Internet Play Is A Strong Buy
InTheMoneyStocks.com | Sep 18, 2018 03:01PM ET
Shares of SINA Corp. (NASDAQ:SINA) were in the green on Tuesday after President Trump announced a new round of tariffs on Chinese goods and the Chinese responded with tariffs of their own. Most would expect Chinese companies to drop sharply, but Sina is not. This tells us that the stock is seeing little impact from the latest round of tariffs or that the negativity has already been factored in.h3 Sina Technicals/h3
A closer look at Sina shows that its chart is into major, epic support and is likely near or at a near-term bottom. This tells us that the stock could bounce sharply higher in the coming weeks.
Watch for an upside move back toward $80 by year end.
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