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Shanda is oversold, Sinovac, eLong overbought

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obos_6_9_tumbLooking at the most oversold China stock list SShanda (SNDA), one of the Chinese online game industry leaders, is the most oversold China stock. chances are that Shanda will break a five day loosing streak soon. This in turn offers trading opportunity for the seasoned investor. For our Shanda analysis, please click here.

 

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One may ask what oversold means, so let's just look up a quick definition. 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.

Now, let's take a look at the most overbought China stock list. It is evident that small cap AMEX listed Sinovac (SVA) and small cap NASDAQ listed eLong Inc. (LONG) are the most overbought Chinese stocks and thus are susceptible for profit taking. China Eastern Airlines (600115.SS)(0670.H)(CEA) is in the danger zone but Baidu.com (BIDU) is not, thus expect Baidu to do well today.

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