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China Mobile (CHL) is on fire

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obos_629-thumbChina Mobile (NYSE:CHL), the largest mobile carrier in the world, jumped $4.02 or 7.69% on Thursday following rumor that it has a viable 3G headset. According to the overbought/oversold indicator, the stock is overbought however short term momentum may continue to propel the stock on Friday. Sinovac (AMEX:SVA) and eLong (NASDAQ:LONG) have already started to crumble, but Focus Media (NASDAQ:FMCN) and Huaneng Power (NYSE:HNP) are set to resume to rally.

Most Overbought China Stock List

OB-87

Looking at tthe most oversold China tock list below, there is not a singla China ADR that is dangerously oversold at this moment.

OS-87

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