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No China stock extremes for Wed., March 23

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sale2 March 23, 2011 (Chinavestor) Home Inns & Hotels Management (NASDAQ:HMIN) pulled back yet remains on the top of the overbought China stocks list. This implies there is no overbought China stock that the moment. Solar stocks continued to lose some of the momentum from last week, sending shares of China Sunergy (NASDAQ:CSUN) and LDK Solar (NYSE:LDK) down to the oversold screen.  Another developing story is FUQI International (NASDAQ:FUQI). Wonder Auto Technology (NASDAQ:WATG) and Telestone Technologies (NASDAQ:TSTC) are stocks of interest as well.

Back to the overbought screen. With the DJIA going sideways, there is no overbought China stock to speak of. Home Inns & Hotels Management (NASDAQ:HMIN) may be the closest to theoretical highs yet there is no selling pressure on the stock. No upside is limited for Chinese ADRs at the moment, according to the overbought screen below.

OB_2011323

China Sunergy (NASDAQ:CSUN) is closest to theoretical lows as selected solar stocks fell out of favor. LDK Solar (NYSE:LDK) is feeling the pinch yet more downside is possible for this stock, according to the oversold monitor.

FUQI International (NASDAQ:FUQI) fell hard yet there is no bottom established yet, according to this technical indicator.

Wonder Auto Technology (NASDAQ:WATG) and Telestone Technologies (NASDAQ:TSTC) have been trading in a narrow range, close to theoretical lows - an indication that these stocks may have bottomed out.

OS_2011323

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



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