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China stocks on the move, again

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buy-sellOct. 30, 2009 (Chinavestor) Chinese stocks recovered most of the losses for the week on Thursday on the back of strong market sentiment. The DJIA rallied just shy of 200 points pulling China stocks along. The impact of the rally on oversold China stocks is huge. Take a look at stocks like American Oriental Bioengineering (NYSE:AOB) or China Digital TV Holding (NYSE:STV). Or JA Solar (NASDAQ:JASO), the best China stock for the week.

Oversold China Stock Universe: 10/29 Oversold China Stock Universe: 10/30
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Most Chinese stocks are in the red for the week, except for JA Solar (NASDAQ:JASO), a small cap China stocks that was ready for a pop. This we highlighted for Chinavestor Advanced members last Friday on Oct. 23, and put JA Solar (JASO) on the buy list. Assuming they acted upon this recommendation, they are up over 6% against negative market sentiment.

It's Friday, time to update the weekly buy stock list. If you want to know what other stocks we pick for next week, SIGN UP forAdvanced Membership now. For detailed description of subscriber benefits, please visit "Premium Content" page.

To see how JA Solar (NASDAQ:JASO) outperforms the rest of the China stock universe, take a look at the Most Overbought China stock list below. The size of the arrow represent last price vs. price 5 days ago.

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Going back to the most oversold China stock universe, New Oriental Edu. (NYSE:EDU) is still the most oversold China stock. Looking at American Oriental Bio (NYSE:AOB) at this point, a stock that has shown signs of support at $4.00 and looks as if that four dollar is the bottom for AOB.

Sohu.com (NASDAQ:SOHU) is still in shambles despite a small rally yesterday. Based on the chart, SOHU has a lot of ground to make up, and it most likely will. remember, revenue guidance hurt the company and as we pointed it out, the drop of 16% on Monday is overdone and SOHU is ready to make a comeback.

The Chinese telecom sector got a sizable lift on Thursday, a positive development in my judgment. We pointed it out several times that Chinese telecoms are undervalued and are offering bottom fishing opportunities.

Most oversold China stock list

OS-1030

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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. 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.



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