Shanda Games Shares Sinking Lower, Down 8.7%

Date:2011-11-01zhangxu  Text Size:

Shanda Games (NASDAQ:GAME), a company whose shares are moving quickly, is trading 8.7% lower to $5.28. The Dow is down 1.5% to 12,050 and the S&P is currently down 1.5% to 1,265.

Potential upside of 22.8% exists for Shanda Games, based on a current level of $5.28 and analysts' average consensus price target of $6.49. The stock should find resistance at its 200-day moving average (MA) of $6.05, as well as support at its 50-day MA of $4.95.

Over the past year, Shanda Games has traded in a range of $3.46 to $7.70 and is now at $5.28, 53% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

Shanda Games Ltd. develops, sources and operates Internet games in China.

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