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Greece's ills drive markets

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Greece November 1, 2011 (Chinavestor) Greece's Premier roiled markets today by calling for a referendum on austerity packages. This renders technical indicators a lot less accurate in predicting stock price performance. Overbought stocks are in danger, including Spreadtrum Communications (NASDAQ:SPRD) as well as Telestone Technologies (NASDAQ:TSTC). If not technicals, volatility measures are useful in navigating today. Read Low risk stocks in turbulent times to find safe stocks. Visit today's overbought indicator below.

OB_20111101

The oversold chart is not as busy, wait until the end of the trading day...

OS_2011111

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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