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SFUN rally is ok, DANG is overbought

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advance3 March 5, 2014 (Chinavestor) This is what a 200 points Dow rally translated to on Tuesday: SouFun Holdings (NYSE:SFUN) surged $4.85, by far the most among NYSE and NASDAQ Chinese listings. The advance of Baidu Inc. (NASDAQ:BIDU) was instrumental setting the technology sector on fire. Home Inns & Hotels Management (NASDAQ:HMIN), Trina Solar (NYSE:TSL)  and 51 job Inc. (NASDAQ:JOBS) all advanced. So did the Chinese oil sector: Sinopec (NYSE:SNP), CNOOC Ltd. (NYSE:CEO) and Petrochina (NYSE:PTR) outperformed the rest of the market. The following chart depicts advances of the largest Chinese stocks. Size of the bubble represents market capitalization.

mover_up_03042014

Good news for Soufun Holdings (NYSE:SFUN) investors is that the stock is not overbought yet! Instead, downside risk exceeds upside potential for Sohu.com Inc. (NASDAQ:SOHU) and E Commerce China (NASDAQ:DANG). These two NASDAQ listings advanced unusually sharp and are ready to take a breather.

Trina Solar (NYSE:TSL) is also among the 25 most ovebought Chinese listings. But it doesn't mean TSL is ovebought. Far from it. Trina Solar (NYSE:TSL) is just trading slightly above its trading envelope.

Baidu Inc. (NASDAQ:BIDU) is not on the following screen altogether. This is good news for BIDU going forward.

ADR_OB_201403042

Chinese education stocks, XUE and EDU, continue to dominate the oversold China stock screen. China Telecom (NYSE:CHA) is far from theoretical lows right now, just like NetEase Inc. (NASDAQ:NTES). Both NTES and CHA are vulnerable going forward, according to the oversold China stock chart.

 

ADR_OS_201403042



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