Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

Overbought Chinese stocks in danger!

E-mail Print PDF

 

warning1Jan. 7, 2010 (Chinavestor) The overbought China stock monitor screams when the third largest aluminum maker in the world advances over 15% in four days. And while we were bullish on Aluminum Corp. of China (NYSE:ACH) yesterday, we turn bearish for today. The overbought monitor is full of stocks that are subject to correction on Thursday. Take a look at another large cap China play, CNOOC ltd. (NYSE:CEO). China's off-shore specialist rose 8.5% in January on the back of strong oil but became overbought and is subject to a pull back. The9 Ltd. (NASDAQ:NCTY), Solarfun Power (NASDAQ:SOLF), and Advanced Battery (NASAQ:ABAT) looks vulnerable not just for their substantial advances but for the fact that their stock price has approached theoretical highs. By definition, a security is 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. Stock of interest from the oversold end of the China ADR universe is Baidu.com (NASDAQ:BIDU).

 

Most overbought Chinese stocks

OB-201017

With a strong market performance in January, most of the action has been taking place on the overbought end of the China stock universe. This is the place to find the best stocks in 2010. But expect the oversold monitor to show some excitement after Thursday when investors take profits before non-farm payroll data. Going stock specific let's just highlight Baidu.com (NASDAQ:BIDU), an oversold stock until yesterday. We specificly told you on Tuesday that "Baidu.com (NASDAQ:BIDU) is a stock that intelligent investors should pay attention to. When a fundamentally solid blue chip, like BIDU, is oversold it it just an opportunity to buy into weakness." This was an excellent call!

Most oversold Chinese stocks

OS-201017

aexpl-obos



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!

Free weekly newsletter

Get hot China stock news every Monday