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Most extreme China stock list

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questionmarkThe following two set of China stock lists the most overbought and the most oversold Chinese ADRs. As the most overbought list testifies, NetEase (NTES) is not only trading at all time high but has run too much too fast last week and thus is subject to a correction. But Shanda Interactive (SNDA), a similar stock in trading characteristics and same industry, is markedly different from overbought point of view and is on the bottom of the list. Expect SNDA continue to climb on Thursday.

A quick definition of overbought: A technical condition that occurs when prices are considered too high and susceptible to a decline. Overbought conditions can be classified by analyzing the chart pattern or with indicators such as the one above. A sharp advance from $15 to $30 in 2 weeks might lead a technician to believe that a security is overbought. Or, a security is sometimes considered overbought when the stock is trading out of its trading envelope and is approaching the theoretical high. It is important to keep in mind that overbought is not necessarily the same as being bearish. It merely infers that the stock has risen too far too fast and might be due for a pullback.Oversold A technical condition that occurs when prices are considered too low and ripe for a rally.

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Looking at the most oversold China stock list, there is not much to point out at this time. With a strong rally on their back, Chinese stocks are not oversold and thus this screen contains little stock sepcific information, except that they all look strong from a technical point of view.

Oversold: A technical condition that occurs when prices are considered too low and ripe for a rally. Oversold conditions can be classified by analyzing the chart pattern or with indicators such as the one above. A sharp decline from $30 to $15 in 2 weeks might lead a technician to believe that a security is oversold. Or, a security is sometimes considered oversold when the stock is trading below its trading envelope and is approaching theoretical lows. It is important to keep in mind that oversold is not necessarily the same as being bullish. It merely infers that the security has fallen too far too fast and may be due for a reaction rally.OS_723

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