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SFUN, DANG way out there

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education March 10, 2014 (Chinavestor) A good number of Chinese listings advanced way too fast in the last few days. Such a rally may last when market sentiment is strong, but is also a liability when tables turn. This is the case with E Commerce China Dangadnag (NASDAQ:DANG) and SouFun Holdings (NYSE:SFUN). To illustrate the unusual advance, take a look at the following price chart for E Commerce China Dangdang (NASDAQ:DANG). The stock surged $8.65 in just one week, or 87% in just seven trading days. DANG closed higher than at the open for all the last seven trading days.

DANG_2014310

To put such an advance into perspective, take a look at the following price range chart. DANG has never in the last 52 weeks has been trading two standard deviation above its trading range! This is highly unusual for any stock but DANG's advance is off the chart!

DANG_Range_20140305

We fully understand that fundamentals, e.g. sound quarterly earnings, are behind the rally. E Commerce China Dangdang (NASDAQ:DANG) reported its first profitable quarter and guided higher going forward. This is good news for the company, no doubt. But such an advance puts pressure on the stock as temptations run high to succumb to profit taking.

dang_2013Q4


SouFun Holdings Ltd. (NYSE:SFUN) is another stock with an unusual move last week. Share price surged $13.7 or %17% in just one week for SouFun Holdings Ltd. (NYSE:SFUN). The stock fell on Friday after an eight day winning streak.

SFUN_20140310

But more decline is coming according to a statistical analysis. SouFun Holdings (NYSE:SFUN) is trading above its trading bounds for the first time in 52 weeks. This is an unusual advance for SFUN and thus is subject to a correction.

 

SFUN_20140305



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