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 on the move, May 11

E-mail Print PDF

bear_bull May 11, 2011 (Chinavestor) China Transinfo Technology (NASDAQ:CTFO) may be trading closest to theoretical highs, but it's Mindray Medical (NYSE:MR) that experienced the most unusual advance yesterday. Chinese airliners, China Eastern Airline (NYSE:CEA) and China Southern Airlines (NYSE:ZNH) are trading above their trading range, but should oil prices continue to firm up, those advances may prove elusive. Other than these events, there hasn't been much change on the overbought screen from yesterday. China TechFaith Wireless (NASDAQ:CNTF) and SouFun Holdings (NASDAQ:SFUN) are looking the same as a day before. Stocks of interest on the oversold screen include LDK Solar (NYSE:LDK), Spreadtrum Communications (NASDAQ:SPRD) and AgFeed Industries (NASDAQ:FEED).

China Transinfo Technology (NASDAQ:CNTF) advanced over 7% on Tuesday and is trading above its trading envelope. The good news is that despite the advance, the stock is not considered overbought.

Mindray Medical (NYSE:MR) surged 7.73% after reporting a better than expected first quarter report. The advance was accompanied with a significant increase in volume. This is key in keeping the stock from falling, despite the unusual run.

China Eastern Airline (NYSE:CEA) and China Southern Airlines (NYSE:ZNH) advanced lately as price of oil fell back to under $100/barrel. But those gains are subject to change in oil prices, something that makes these stocks volatile going forward.

There is no change in the technical reading of SouFun Holdings (NASDAQ:SFUN) and China TechFaith Wireless (NASDAQ:CNTF) from yesterday. SouFun Holdings (NASDAQ:SFUN) consolidated on Tuesday and may resume going higher on Wednesday. But China TechFaith Wireless (NASDAQ:CNTF) has significant downside risk, according to the overbought monitor.

OB_2011511

Despite a 2.15% advance, LDK Solar (NYSE:LDK) remains oversold. While the solar sector has problems of its own, LDK Solar (NYSE:LDK) is oversold and may continue to recover.

Spreadtrum Communications (NASDAQ:SPRD) fell over 6% on Tuesday and became oversold. The stock is expected to bottom out right here.

Despite sizable losses, more downside is possible for AgFeed Industries (NASDAQ:FEED) though, according to the oversold screen.

OS_2011511

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.



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