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Oversold China plays offer quick profit

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advance8 May 6, 2010 (Chinavestor) With only one overbought China stocks on the screen, oversold China plays are in the focus for Thursday. The list is long and full of action, but the following stocks stick out somewhat: Yingli Green Energy (NYSE:YGE), AsiaInfo Holdings (NASDAQ:ASIA), Focus Media Holdings (NASDAQ:FMCN), AgFeed Industries (NASDAQ:FEED), China Automotive Systems (NASDAQ:CAAS), and Suntech Power (NYSE:STP). But again, it is worth playing attention to many more stock than the ones we just highlighted.

China Automotive Systems (NASDAQ:CAAS) fell yesterday and became oversold  but turned around this morning before the open as earnings surpassed expectations. CAAS tumbles before 2010 Q1 earnings.

Most oversold China stocks

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Expect for Spreadtrum Communications (NASDAQ:SPRD), there is not a single overbought China play this morning.

Most overbought China stocks 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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