Qihoo 360 Technology Co. Ltd. (NYSE:QIHU) breaks down through support, levels to...

Qihoo 360 Technology Co. Ltd. (NYSE:QIHU) breaks down through support, levels to watch

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The stock of Qihoo 360 Technology Co. Ltd. (NYSE:QIHU) took out the prior low of the day at $62.20, which is now resistance, and was last at $61.11. At that price next support is at $59.01.

Shares of Qihoo 360 Technology Co. Ltd. (NYSE:QIHU) are trading +8.74% at the time of writing on the news and in the range of 60.00 – 64.32 for the current session. In taking a deeper look at the stock and where it might be headed, brokerage firms on Wall Street currently have a consensus one year price target of 79.39 on the shares. This is according to analysts surveyed by Thomson Reuters First Call. The sell-side analysts are projecting earnings per share of 0.93 for the next fiscal quarter. For the current year, analysts are predicting earnings of 3.47 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading -2.86% away from its 50 day moving average of 62.23. Based on the most recent available data, the equity is -42.32% off of its 52-week high of 104.81 and +35.66% away from its 52-week low which is 44.56.

In taking a look at the company’s valuation, the firm’s price to earnings ratio stands at 35.10. This is a crucial indicator investors watch as higher ratios compared to peers, would suggest higher future earnings growth potential for the stock. The price to current year EPS estimates from research analysts currently stands at 17.42. In looking further ahead, potential investors should note that the company’s price to next year’s EPS estimates is 12.52.

Today, the stock opened at 62.51 and the last bid at the time of writing stood at 60.45. During the session thus far, the equity dipped down to 60.00 and touched 64.32 as the high point. Qihoo 360 Technology Co. Ltd. A has a market cap of 7.54B and has seen an average daily volume of 3433960 over the past three months.

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