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 stock extremes, June 1st

E-mail Print PDF

eye June 1, 2011 (Chinavestor) Volatile Telestone Technologies (NASDAQ:TSTC) took the lead among most overbought Chinese stocks. Despite latest gains, more upside is possible for China Unicom (NYSE:CHU) and Yanzhou Coal Mining (NYSE:YZC), according to the overbought screen.  VisionChina Media (NASDAQ:VISN) became oversold while China Automotive Systems (NASDAQ:CAAS) is added to the most oversold list. Chinese solars jumped following news that Germany will shut its nuclear power plans sooner than expected, effectively removing most of the from the oversold screen. Trina Solar (NYSE:TSL) advanced 4.02% while Yingli  Green Energy (NYSE:YGE) surged 5.03%. Smaller JA Solar (NASDAQ:JASO) jumped 6.34%.

Despite strong gain on Tuesday, none of these solar stocks are overbought. Looking at the most overbought stock screen, Telestone Technologies (NASDAQ:TSTC) is on top. The stock got a second wind after earnings, surging 15% in the past two days alone. Despite the unusual move, more upside is possible, according to the screen below.

China Unicom (NYSE:CHU) is looking to have sustainable momentum.

Yanzhou Coal Mining (NYSE:YZC) jumped over 6% on Tuesday but has additional room for upside. The stock hasn't reached theoretical highs yet.

OB_201161

There is no change among the top three oversold China stocks, except that VisionChina Media (NASDAQ:VISN) is now joined the group.

Surprise China Automotive Systems (NASDAQ:CAAS) is among the most overolsd Chinese stocks.

Solars, the most oversold sector last week, have improved substantially. Trina Solar (NYSE:TSL), Yingli  Green Energy (NYSE:YGE) or JA Solar (NASDAQ:JASO) look anything but oversold at this point.

OS_201161

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