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Chinese internet stocks on sale, June 14

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sale1 June 14, 2011 (Chinavestor) Prominent Chinese internet stocks continue to top the most oversold China stock list. Sina Corp. (NASDAQ:SINA), one of the largest internet portals in China and dubbed by many as China's Yahoo!, slid on Monday to well below $90 for the first time in three months and is considered oversold. Just as importantly, Baidu.com Inc. (NASDAQ:BIDU) is oversold and is hurting the rest of the sector. Sohu.com Inc. (NASDAQ:SOHU) is also among the 25 most oversold China stocks. Agria Corp. (NYSE:GRO), Global Sources (NASDAQ:GSOL), Chindex Int. (NASDAQ:CHDX), China Biotics Inc. (NASDAQ:CHBT) and Simcere Pharma (NYSE:SCR) are additional stocks of interest.

Looking at the oversold monitor today, Sina Corp. (NASDAQ:SINA) is on top of the chart. The stock is CLEARLY OVERSOLD and is ready for a comeback.

Should SINA bounce off, Baidu.com Inc. (NASDAQ:BIDU) is sure to follow. China's largest search engine company is also hurting and the sell-off was excessive, according to the oversold chart below.

While Sohu.com Inc. (NASDAQ:SOHU) is off the chart, the stock is almost as likely to bounce back as her larger rivals.

Agria Corp. (NYSE:GRO) fell hard and is considered oversold as well. Smaller cap Global Sources (NASDAQ:GSOL), Chindex Int. (NASDAQ:CHDX), and China Biotics Inc. (NASDAQ:CHBT) are volatile stocks with significant drop lately, offering turnaround opportunities. But high return comes with high risk, something seasoned investors should keep in mind.

The bottom fell off with Simcere Pharma (NYSE:SCR), a more liquid stock that is ready for a comeback.

OS_2011614


There are no overbought China stocks to speak of this morning. Chinese stocks have been hurting for over a week, rendering the overbought monitor useless this time.

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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