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Trina Solar and other extremes in Jan.

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advance_12 January 24, 2011 (Chinavestor) Looking at China stock extremes, Trina Solar (NYSE:TSL) is clearly overbought. China Architectural Engineering, Inc. (NASDAQ:CAEI) doesn't count due to its no-compliance with NASDAQ rules. But investors better pay attention to China XD Plastics (NASDAQ:CXDC) and Yingli Green Energy (NYSE:YGE) as both stock have sound momentum. China Unicom (NYSE:CHU) and WuXi Pharmatech (NYSE:WX) are more in the danger zone for their current price is way above the trading envelope. Aluminum Corp. of China (NYSE:ACH) is a wild horse, may continue to accelerate. New Oriental Education & Tech. Group Inc (NYSE:EDU) is the stock to watch on the oversold screen at the bottom of the page.

Trina Solar (NYSE:TSL) and Yingli Green Energy (NYSE:YGE) are some of the best solar plays right now but the resurgence is spreading through the sector. High oil prices and low valuation after the November-December slump is behind the surge. But Trina Solar (NYSE:TSL) reached theoretical highs, suggesting downside risk now exceeds upside momentum.

Chinese industrials have been on the roll in Shanghai lately, giving China XD Plastics (NASDAQ:CXDC) a boost. The stock is far from overbought and has more upside left.

China Unicom (NYSE:CHU) had its best week in three months but is ready to loose some of its momentum. WuXi Pharmatech (NYSE:WX)looks similar on the overbought screen as well.

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New Oriental Education & Tech. Group Inc (NYSE:EDU)  is back under $100 range for the first time in three months and is oversold! The stock fell on fundamentals, e.g. missing forecast for the quarter, but may bounce back off during the week.

Chinese airliners have been beaten up but may surprise investors to the upside.

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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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