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China stocks on the move early Dec

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snow_1 December 2, 2011 (Chinavestor) After 30% plus surge in five days, Yingli Green Energy (NYSE:YGE) is overbought. But Trina Solar (NYSE:TSL) and LDK Solar (NYSE:LDK) has a lot more upside left, according to the overbought chart. Downside risk exceeds upside potential for The9 Limited (NASDAQ:NCTY) and AirMedia Group (NASDAQ:AMCN) as well. When it comes to the oversold stock list, Sina Corp. (NASDAQ:SINA) is the most prominent internet stock on the screen this Friday. Other notable movers include E-House Holdings (NYSE:EJ) and Changyou.com Ltd. (NASDAQ:CYOU).

Back to the overbought screen. Chinese solar stocks recovered along market lines but the rally may come to an end soon, according to the overbought monitor. Yingli Green Energy (NYSE:YGE) has reached theoretical highs and while may extend the upswing for a day or two, profit taking will be the key scheme for next week. Chances that Trina Solar (NYSE:TSL) or Suntech Power (NYSE:STP) will succumb to profit taking is less albeit these solar stocks can't fight the market. Investors better exercise caution with solar stocks going forward.

The9 Ltd. (NASDAQ:NCTY) and AirMedia Gr. (NASDAQ:AMCN) are small cap, low volume stocks that are a lot more unpredictable using technical indicators.

OB_20111202

Changyou.com Ltd. (NASDAQ:CYOU), the most oversold stock at the beginning of the week, is gone from the list. The stock is up over 20% for the week, a move Chinavestor subscribers took advantage of.

Sina Corp. (NASDAQ:SINA) has a lot more upside potential than downside risk at this point. But outlook is uncertain for E-House Holdings (NYSE:EJ).

OS_20111202

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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