The upward trend could come to support Phoenix New Media in the coming sessions.

The fundamentals support the stock with a gradual upward revision of earnings per share by analysts. Taking into account the good quality of publications, the P/E ratio for 2013 and 2014 still show a good potential of valuation.

Technically, the uptrend in the medium and long term should protect the stock of a major downtrend. In the short term, the decrease potential seems to be limited close to the USD 8.59 support. Therefore, a technical rebound should drive prices toward the USD 10.36 resistance and then USD 11.3.

Consequently, we expect a quick come back of the bullish movement. The most active investors can buy the share in this area and target a return toward USD 10.36 and next USD 11.3. A stop loss can be placed under the USD 8.59 support.