Analyzing the price chart for AsiaInfo Holdings (NASDAQ:ASIA) has revealed a potential bearish inside day candle pattern. Yesterday's price range of $11.71 and $11.99 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of AsiaInfo Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
AsiaInfo Holdings, Inc. provides telecom software solutions in China. The Company provides a full range of telecom software solutions including network infrastructure, operation support systems, and service applications to China's telecom carriers.
In the past 52 weeks, AsiaInfo Holdings share prices have been bracketed by a low of $9.46 and a high of $13.90 and closed yesterday at $11.86, 25% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.
There is potential upside of 4.7% for shares of AsiaInfo Holdings based on a current price of $11.86 and an average consensus analyst price target of $12.42. The stock should discover initial support at its 200-day moving average (MA) of $11.15 and subsequent support at its 50-day MA of $11.02.