Despite After-Hours Downside, Longs Watching for Reversal in Sina

Brooks McFeely submits:

Sina (SINA) declined about 4.5% to 78.35 late in Tuesday's after-hours trade after posting results and guidance, but despite the negative trade, longs should give this one a hard look, as the stock has a strong tendency to reverse direction in next-day trade.

SINA has recorded an earnings-driven after-hours decline in five of the last 11 quarters tracked by our MT Pro database. 80.0% of the time (four out of five times) the stock reversed in the opposite direction by the close of the next day's regular session, compared to the extended hours "effective close." When it reversed, the price closed in the opposite direction on average by 9.0% (in four events) from the "effective close."

The solid reversal trend in place -- and some decent upside liquidity that flowed into SINA shares off the Tuesday night after-hours low -- may open the door for more risk-tolerant longs to eye


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