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Overbought China stocks falter

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decline3 March 16, 2010 (Chinavestor) There is only one overbought China stock this morning, Global Sources (NASDAS:GSOL), according to the indicator below. Shares of Fushi Copperwled (NASDAQ:FSIN) fell -1.84% on Monday after the stock became overbought. Baidu.com (NASDAQ:BIDU) is looking good from a technical point of view, more upside is possible. Stocks with unusual momentum include ATA Inc. (NASDAQ:ATAI), China Integrated Energy (NASDAQ:CBEH), and China Medical Technologies (NASDAQ:CMED).

On the oversold end City Telecom (NASDAQ:CTEL) and WuXCi Pharmatech (NYSE:WX) became oversold and are ready to bounce back up. Technical indicators captured the weakness of Acorn International (NYSE:ATV) following Q4 financial reports. More downside is possible, according to the oversold chart.

 

 

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For a fundamental analysis of Global Sources (NASDAQ:GSOL), read Global Sources 2009 Q4 rocks!

For a fundamental analysis of Fushi Copperweld (NASDAQ:FSIN), read Fushi Copper reports record profit, strong sales -but guides lower.

For a technical assessment of the latest rally of Baidu.com (NASDAQ:BIDU), read Baidu makes it to $550.

For a fundamental analysis of WuXi Pharmatech (NYSE:WX), read WuXi Pharma lacks growth, promises more

For a fundamental analysis of Acorn Int. (NYSE:ATV), read Five reasons to shun ATV after '09 Q4.

Most overbought Chinese stocks

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Most oversold Chinese stocks

OS-2010316

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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