SINA Could Be Nice Set Up But Riskier Play
Disclosure: Long Jan 85 calls, Short Dec 85 calls with stock at 76.8, SINA had a huge bullish engulfing candle on Dec. 10th probably due to TWTR strength, volume confirmed the move although the 50 day still stands as resistance, todays pullback is on lower volume and is healthy for the bullish engulfing yesterday, chances are this will break above the 50 DMA in December, also potentially a cup and handle forming over the past couple days if sideways action continues near the 50 day
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