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Education shares lead China stocks higher

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education_3 August 23, 2010 (Chinavestor) ChinaEdu Corp. (NASDAQ:CEDU) rose 9.3 percent last week - and became overbought. New Oriental Education & Technology (NYSE:EDU) advanced half of that and is on the watch list on the overbought screen. China Education Alliance (NYSE:CEU) is going to ring the opening bell on the NYSE on Thursday, an event Blaze Fabry from Chinavestor is going to attend. Expect an exclusive interview to be reported on Chinavestor.com the following days.

Tiens Biotech (AMEX:TBV) is oversold and might make a comeback, according to the oversold monitor.  CDC Corp. (NASDAQ:CHINA) and Qiao Xing Mobile (NYSE:QXM) are another set of stock that might pop on Monday. Downside risk exceeds upside potential for China TechFaith Wireless (NASDAQ:CNTF), according to the overbought chart below. But it's the Chinese education companies that have been on fire last week.  The sudden rise in the price of ChinaEdu Corp. (NASDAQ:CEDU) suggests the stock is going to plateau sooner than later, but upside is not limited for New Oriental Education & Technology (NYSE:EDU), as far as technicals are concerned. China Education Alliance (NYSE:CEU) may get a lift from the strength of the sector as well.

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The oversold end has one new oversold stock from last week: Tiens Biotech (AMEX:TBV). But oversold doesn't mean bullish, it merely infers that a stock might pop up based on technicals. Longer term outlook remain dim for Qiao Xing Mobile (NYSE:QXM) and CDC Corp. (NASDAQ:CHINA). This later one went from a $6.5 stock to  $1.5 IN LESS THAN A MONTH...

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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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