Dec. 17, 2009 (Chinavestor) The FED's decision to leave interest rates near zero for a several more months helped the dollar but hurt equities on Wednesday. Oversold stocks didn't turn around but selected momentum stocks continued to show strength. Stocks with positive surpise include UTI Startcom (NASDAQ:UTSI), Mindray Medical Int. Ltd. (NYSE:MR) and ReneSola Ltd. (NYSE:SOL). On the downside JA Solar (NASDAQ:JASO) took a breather while ChinaCast Education (NASDAQ:CAST) is expected to remain volatile for the rest of the week. Ctrip.com (NASAQ:CTRP) is not overbought despite a strong rally on Wednesday and looks to have suitable momentum.
Simcere Pharma (NYSE:SCR) continues to top the most overbought China ADR list followed by Focus Media Holdings (NASDAQ:FMCN). Yucheng Technologies (NASDAQ:YTEC) swung back to the list recovering all of her losses from a day earlier. These stocks became vulnerable according to the overbought monitor. Mindray Medical Int. Ltd. (NYSE:MR) advanced significantly and is on the radar screen now, just as is A-Power Energy (NASDAQ:APWR). Both companies are far from theoretical highs but a sudden advance makes them susceptible for profit taking.
Most overbought China stock list
Huaneng Power (NYSE:HNP) and Linktone Ltd. (NASDAQ:LTON) are trading the closes to the theoretical lows but Tiens Biotech (AMEX:TBV) is the one with the largest loss of momentum. One has to wonder where the bottom just might be for TBV after a 25% dive in the last three days. the9 Ltd. (NASDAQ:NCTY) is another stock of interest though the stock hasn't found support yet and is expected to fall.
Most oversold China stock list