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China stocks on the watch list for Tuesday

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cash1 Feb. 16, 2010 (Chinavestor) Technical indicators come handy when the market has a direction. Today looks like a day like that - heading up north. If that's the case, let's take a look at the China stock list to find the best China ADRs for Tuesday.

Baidu.com (NASDAQ:BIDU) jumped over 10% last week following better-than-expected earnings. The stock is likely to give the $500 mark a run - but is getting overbought and thus investors will have to exercise caution. Chinavestor picked Baidu.com (NASDAQ:BIDU) for the Growth Portfolio at $411.71 at the beginning of February. An email alert to sell at $500 is in the consideration...

We notice the following stocks with momentum - and stocks that are NOT overbought yet. This implies more upside is likely for China Digital TV Holding (NYSE:STV), NetEase.com Inc. (NASDAQ:NTES), Jinpan International (NASDAQ:JST), and ShengdaTech Inc. (NASDAQ:SDTH). eLong Inc. (NASDAQ:LONG) is oversold and is not expected to do much before earnings release but if earnings beat expectations, eLong Inc. (NASDAQ:LONG) can be up to a nice surprise!

WARNING! Jinpan International (NASDAQ:JST) is trading 50% lower in pre-market trading - or it might be just a wrong entry - but this stock has been extremely volatile increasing risk her level. Jinpan Int. (NASDAQ:JST) has just made it up to the NASDAQ from the AMEX, highlighting that investors have to be very careful with JST.

China Digital SV Holding (NASDAQ:STV) is looking good for today, just as is NetEase.com (NASDAQ:NTES). Strength of Baidu.com (NASDAQ:BIDU) is felt all over the Chinese internet sector, NetEase.com (NASDAQ:NTES) being on of the beneficiaries.

ShengdaTech Inc. (NASDAQ:SDTH) is a smaller cap, high growth stock that the overbought monitor picked up this morning.

Most overbought China stock list

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Most of the actin has been taking place on the overbought end of the China stock universe. Investors have their best chances looking at the overbought list on Tuesday. eLong Inc. (NASDAQ:LONG) is approaching her theoretical lows but is not going to report Q4 this week - thus lacking a catalyst. The best way to play LONG is this: buy it right before earnings and if the company report better-then-expected, you're golden. If numbers were worse-then-expected you're not going to loose much either - eLong Inc. (NASDAQ:LONG) has not much downside left - according to the oversold indicator.

Most oversold China stock list

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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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