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 get ready to jump as July ends

E-mail Print PDF

Asia_2 July 29, 2011 (Chinavestor) NYSE listed China stocks dominate the overbought China stocks screen on Friday. China Mobile (NYSE:CHL) is looking good along with China Eastern Airlines (NYSE:CEA). Both stocks have significantly pulled back from extreme overbought position. China Green Agriculture (NYSE:CGA) fell the hardest among Chinese ADRs on Thursday, indicating the rally had no legs. Aluminum Corp. of China (NYSE:ACH) is another stock on fire but the advance looks too much, too fast for such as large cap stocks as the world's third largest aluminum maker. Chinese internet stocks are ready to take off once market sentiment improves, according to the overbought screen. 51job Inc. (NASDAQ:JOBS) leveled off on Thursday after a significant fell a day before. Ctrip.com Int. (NASDAQ:CTRP) looks similar to search engine giant Baidu.com Inc. (NASDAQ:BIDU) and internet portal Sohu.com Inc. (NASDAQ:SOHU) from a technical point of view. More upside is possible under the right circumstances. Changyou.com Inc. (NASDAQ:CYOU) is playing catch up with the rest of the sector.

Looking at the oversold end of the China stock universe, Guangshen Railway (NYSE:GSH) continued to struggle to find support. But Huaneng Power Int. (NYSE:HNP) might bounce back along with CNOOC Ltd. (NYSE:CEO). Back to the overbought screen. The good news is that there is no China stock trading at extreme at the moment. One of the most striking stock is Aluminum Corp. of China (NYSE:ACH) for its 8.9% advance on Thursday. Given the unusual advance, upside looks limited.

China Mobile (NYSE:CHL) and China Eastern Airlines (NYSE:CEA) look ready to advance once market sentiment improves. Both stocks pulled back from extreme theoretical  highs and are trading in a more neutral position.

Chinese internet stocks are ready to jump as well. 51job Inc. (NASDAQ:JOBS) is trading closest to theoretical highs among its peers but is far from overbought. Baidu.com Inc. (NASDAQ:BIDU) rocked the house with a stellar 2011 Q2 report and is held back by negative market sentiment only. But that may not hold for too long, potentially igniting the rests of the sector. Stocks ready to jump include Sohu.com Inc. (NASDAQ:SOHU), Changyou.com Inc. (NASDAQ:CYOU) and Ctrip.com Int. (NASDAQ:CTRP).

OB_2011729

Low volume Ata Inc. (NASDAQ:ATAI) is oversold but remains unpredicatalbe due to low investors interest. Guangshen Railway (NYSE:GSH) and the rest of the sector continues to suffer after the deadly bullet train accident in China.

But falling coal prices bode well for China's largest independent power generator, Huaneng Power Int. (NYSE:HNP). China's offshore oil specialist, CNOOC Ltd. (NYSE:CEO), has been on a loosing streak and might bottom out.

OS_2011729

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