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BIDU is ready for a comeback

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advance4 September 26, 2011 (Chinavestor) Besides some small cap China stocks, Baidu.com Inc. (NASDAQ:BIDU) is oversold. Should Baiud.com Inc. (NASDAQ:BIDU) make a comeback on Monday, Sohu.com Inc. (NASDAQ:SOHU) and NetEase.com Inc. (NASDAQ:NTES) are aslo going to bounce back up, according to the oversold monitor. Sina Corp. (NASDAQ:SINA) is gone from the overbought chart completely after a 21% decline last week. Chinese airliners moved away from extreme oversold position, making their next move uncertain. Changyou.com (NASDAQ:CYOU) and Melco Crown Entertainment (NASDAQ:MPEL) has more upside potential than downside risk at this point.

China's largest internet company by market cap, Baidu.com (NASDAQ:BIDU) is considered oversold at the moment. The stock fell 16% last week and leveled off on Friday but remains oversold to the extremes. This suggests the stock will make a strong comeback on Monday.

Sohu.com Inc. (NASDAQ:SOHU) hasn't reached theoretical lows yet but fell just as hard as BIDU. NetEase.com Inc. (NASDAQ:NTES) is another internet stock with large volume that follows Baidu.com (NASDAQ:BIDU) closely. Both these stocks are looking good for Monday on the chart below.

Sina Corp. (NASDAQ:SINA) tumbled last Tuesday due to its Weibo.com service got downgraded by investors. The stock is not oversold but moved along industry lines and is expected to piggyback the rest of the sector. Related article: What's Weibo's Worth?

Online gamers have been hurting with Changyou.com Lt.d (NASDAQ:CYOU) and Perfect World (NASDAQ:PWRD) hit the hardest. Changyou.com Ltd. (NASDAQ:CYOU) is oversold and is ready for a comeback, according to the oversold chart below.

Trading stock Melco Crown Entertainment (NASDAQ:MPEL) may shine with the rest of the market and has more upside potential than downside risk.

OS_2011926

There is not much to see on the overbought chart today.

OB_2011926

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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