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Stocks with upside potential in Nov

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advance7 November 30, 2011 (Chinavestor) China small caps continue to dominate the overbought screen. Downside risk exceed upside potential for Qiao Xing Unbi. (NASDAQ:XING), The9 Ltd. (NASDAQ:NCTY) and AirMedia Group (NASDAQ:AMCN).  Sohu.com Inc. (NASDAQ:SOHU), Sina Corp. (NASDAQ:SINA) and Ctrip.com Int. (NASDAQ:CTRP) are stocks of interest on the oversold screen.

OB_20111130

There are no oversold China stock extremes this morning. Sina Corp. (NASDAQ:SINA) is not oversold yet has a lot of upside potential. Sohu.com Inc. (NASDAQ:SOHU) lost ground as well although Sina offers more upside. Ctrip.com Int. (NASDAQ:CTRP) is another stock with upside potential should market sentiment improve.

OS_20111130

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.

aa_OBOS_expl_2weeks


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