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

Energy, internet stocks snap back

E-mail Print PDF

oil3 August 10, 2011 (Chinavestor) There are no overbought China stocks to speak of today but the oversold monitor is full of life. For one, Chinese energy stocks bounced back on Tuesday, moving away from extreme oversold position. Petrochina Co. Ltd. (NYSE:PTR) crawled 1.5% higher while CNOOC Ltd. (NYSE:CEO) rose 4.18%. Both stocks surrendered top oversold positions to newcomers such as Mindray Medical (NYSE:MR) and China XD Plastics (NASDAQ:CXDC). Stocks with the steepest decline include AsiaInfo-Linkage (NASDAQ:ASIA) and Telestone Technologies (NASDAQ:TSTC). China Infrastructure Development (NASDAQ:CIIC) fell way below her trading range and might snap back, according to the oversold monitor.

Mindray Medical (NYSE:MR), a Chinese medical equipment maker fell 3% on Tuesday following second quarter earnings report. While the company was able to grow its revenues, earnings failed to gain momentum to the dismay of investors. There is more downside left for the stock, according to the monitor below.

China CD Plastics (NASDAQ:CXDC) is just as oversold as MR, but again, the stock hasn't reached theoretical lows yet. The company will report on August 15.

Petrochina Co. Ltd. (NYSE:PTR) moved away from extreme oversold position on Tuesday but is still suffering. But with oil up 4.3% on Wednesday, outlook for oil producers is certainly on the rise. CNOOC Ltd. (NYSE:CEO), China's offshore oil driller, is in the same boat: rising oil price bodes well for the company.

The large decline in AsiaInfo-Linkage (NASDAQ:ASIA) and Telestone Technologies (NASDAQ:TSTC) suggests these stocks fell too hard, too much and might be ready for a comeback. Both stocks lost over 20% in the past five days and are considered oversold.

China Infrastructure Development (NASDAQ:CIIC)is another extreme stock at the moment. The stock is trading way below its normal trading range indicating the bottom is near.

OS_2011810

Again, there are no overbought China stocks at the moment. Stocks with some advance from last week include Spreadtrum Communications (NASDAQ:SPRD), SinoTech Energy (NYSE:CTE), Synutra Int. (NASDAQ:SYUT) and Vimicro Int. (NASDAQ:VIMC).

OB_2011810

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