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CYOU, YGE, CEA on the move

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advance3 December 1, 2011 (Chinavestor) Besides some low volume small market cap stocks, larger China stocks gained momentum. Yingli Green Energy (NYSE:YGE) and Trina Solar (NYSE:TSL) are the best from the solar field and China Eastern Airlines (NYSE:CEA) among airliners. The good news is that despite recent advances, none of the mare overbought. Some of the most interesting stocks on the oversold screen include Sina Corp. (NASDAQ:SINA) and Sohu.com Inc. (NASDAQA:SOHU) from the internet sphere along with online gamer Changyou.com Ltd. (NASDAQ:CYOU) and Perfect World (NASDAQ:PWRD).

Back to the overbought screen. China Eastern Airlines (NYSE:CEA) advanced from $18 to $21.6 in five days but is far from extreme overbought position. This implies more upside is possible.

The same is true for hot solar stocks such as Yingli Green Energy (NYSE:YGE) and Trina Solar (NYSE:TSL). Despite recent advances more upside is possible.

OB_20111201

There are no oversold China stock extremes at the moment. Changyou.com Ltd. (NASDAQ:CYOU) was extremely oversold at the beginning of the week but after a 17% rise since Friday, that's no longer the case. Remark: we picked the stock and told Advanced members to buy it lasts Friday and sell it on Thursday, locking in a gain of 17%. To see the rest of our picks, subscribe to Advanced Membership now.

Sina Corp. (NASDAQ:SINA) as well as Sohu.com Inc. (NASDAQ:SOHU) are looking good with more upside potential than downside risk.

Perfect World (NASDAQ:PWRD) is another online gamer that is hit albit there is no guarantee that upside is coming.

OS_20111201

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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