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

China stocks to watch on June 4, Friday

E-mail Print PDF

WallStreet June 4, 2010 (Chinavestor) Changes to the China stock watch list from Thursday: New Oriental Education & Tech. Group Inc (NYSE:EDU), China TechFaith Wireless (NASDAQ:CNTF), and 3SBio Inc. (NASDAQ:SSRX) from the overbought screen and City Telecom (NASDAQ:CTEL), Canadian Solar (NASDAQ:CSIQ), and Silvercorp Metals (NYSE:SVM) from the oversold screen. Baidu.com (NASDAQ:BIDU) remains volatile, something day-traders have to keep in mind.

There isn't any overbought China ADR at the moment, technically speaking. This suggest the uptrend may can for eLong Inc. (NASDAQ:LONG) and Vimicro Int. (NASDAQ:VIMC). 3SBio Inc. (NASDAQ:SSRX) made a V-shaped recovery since last week, suggesting more upside is on the way should market sentiment improve on the jobs report.

Despite a seven percent advance on Thursday, shares of New Oriental Education & Tech. Group Inc (NYSE:EDU) are NOT overbought leaving more room to the upside! The same is true for China Techfaith Wireless Comm. Tech. Ltd. (NASDAQ:CNTF).

Baidu.com (NASDAQ:BIDU) remains an explosive stock and is neutral from an overbought point of view.

OB_201064

Chinese solar stocks offer value for the intelligent investor. Each and every Chinese solar company surprised to the upside, are highly profitable with strong demand for their products. Yet they remain under water due to problems with the euro. Solar stocks and the dollar.

JA Solar Holdings (NASDAQ:JASO) remains oversold and ready to pop. Canadian Solar (NASDAQ:CSIQ) got hammered as it delayed first quarter earnings and now faces multiple class-action suits.

City Telecom (NASDAQ:CTEL) was one of the best China ADRs in 2009 but has lost ground lately. While the stock isn't oversold technically speaking, a bounce back up is a possibility.

Silvercorp Metals (NYSE:SVM) fell 4% on Thursday but the downtrend started earlier the week, or the month. The stock dove from $9 to $6 in five days in the middle of May and hasn't been able to stabilize. Despite a 10% loss in the last five days the stock is not oversold and has more room left to the downside.

OS_201064

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.

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