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

Vulnerable China stocks on Feb 9

E-mail Print PDF

banace_3 February 9, 2011 (Chinavestor) Mindray Medical International Limited (NYSE:MR) and Global Sources Ltd. (NASDAQ:GSOL) look vulnerable this morning on the overbought screen while most of the action took place on the oversold end of the China stock universe. eLong Inc. (NASDAQ:LONG) became oversold but the weakness is here to stay for New Oriental Education & Tech. Group Inc (NYSE:EDU), CNOOC Ltd. (NYSE:CEO) and China Real Estate Information Corporation (NASDAQ:CRIC), at least for Wednesday. ChinaCast Education (NASDAQ:CAST) and Zhongpin Inc. (NASDAQ:HOGS) have additional downside left, despite sizable losses - according to the oversold monitor.

Back to the overbought screen. Despite a multi year high of key U.S. indices, Chinese ADRs failed to gain traction. Mindray Medical International Ltd. (NYSE:MR) has been advancing to the $30 resistance level ahead of earnings. The company has a break out potential should earnings beat propped up estimates.

Global Sources Ltd. (NASDAQ:GSOL) was the best performing Chinese ADR on Tuesday but the advance looks too much, too fast on the overbought screen below. Downside risk exceeds upside potential for both Mindray and Global Sources at this point.

OB_201129

eLong Inc. (NASDAQ:LONG) has reached theoretical lows and is ready to bounce back up. But it is important to keep in mind that small stocks can't fight the market. This implies the bounce back will have to wait for eLong (NASDAQ:LONG ) until overall market sentiment improves.

Despite a weakness following the quarterly report,  New Oriental Education & Tech. Group Inc (NYSE:EDU) isn't out of the woods yet, according to the oversold monitor. More downside is possible for the stock hasn't reached theoretical lows yet.

Chinese oil porducer CNOOC Ltd. (NYSE:CEO) fell hard lately but isn't oversold yet. With oil companies falling hard in Hong Kong earlier the day, short term outlook for CNOOC LTd. (NYSE:CEO) hans't improved all that much yet.

Interest rate hikes sent Chinese property stocks tumbling in Asia today. China Real Estate Information Corporation (NASDAQ:CRIC) is going to feel the pinch.

ChinaCast Education (NASDAQ:CAST) is hurt by weak performance of industry leader New Oriental Education & Tech. Group Inc (NYSE:EDU). Despite large losses, CAST isn't oversold and thus the recovery may have to wait.

Zhongpin Inc. (NASDAQ:HOGS) is another stock with significant losses lately. Yet the stock hasn't reached theoretical lows yet.

OS_201129

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