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FED decision exposes vulnerable China stocks

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bank_1 Feb. 19, 2010 (Chinavestor) Stock markets around the globe fell on anticipation that the FED will raise interest rates for consumers and banks. When the markets are heading south, overbought and momentum stocks are in danger.

Looking at the most overbought China stock list below, the best performing China stocks of the week, Baidu.com (NASDAQ:BIDU) is the closest to the overbought position - but isn't technically overbought. Nevertheless Baidu.com (NASDAQ:BIDU) won't be able to fight the market, at least not for the short term.

The following stocks have shown significant momentum this week and thus are in the danger zone for Friday: Acorn International (NYS:EATV), Synutra International (NASDAQ:SYUT), HQ Sustainable Maritime Industries Inc. (AMEX:HQS), Global Sources Ltd. (NASDAQ:GSOL), Shengda Tech (NASDAQ:SDTH), NetEase.com Inc. (NASDAQ:NTES) and China Medical Technologies (NASDAQ:CMED).

It's going to be important to see how these stocks will withstand negative market sentiment on Friday - a signal about their expected performance for the upcoming week. Don't forget, it's Friday - time to publish the the latest "Weekly Stock Buy List" at 3:30 P.M. for Premium Members. Sign up for Advanced membership now and grab the horn of the markets today. Chinavestor "Weekly Stock Buy List" is up +6.25% year-to-date vs. -7.3% for the Hang Seng Index and -4.5% for the S&P 500. For details about the service visit Premium content page.


Most overbought China stock list

OB-2010219


AirMedia Group Inc. (NASDAQ:AMCN) is the only technically oversold China ADR today but don't expect this stock to turn around on Friday. The company is going to release fourth quarter earnings on March 1st and it looks like investors are hedging their bets right now. Linktone Ltd. (NASDAQ:LTON), WuXi Pharma (NYSE:WX), Tongjitang Chinese Medicine (NYSE:TCM) are in the danger zone on Friday as well.

Most oversold Chinese stocks

OS-2010219

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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