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Solar stocks are vulnerable

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worry_1 December 7, 2011 (Chinavestor) A last hour rally yesterday kept LDK Solar (NYSE:LDK) on top of the overbought screen. Yingli Green Energy (NYSE:YGE) is not extremely overbought but is susceptible to a correction should market sentiment turn negative. Trina Solar (NYSE:TSL) is relatively safe after a pullback yesterday, according to the overbought chart. Downside risk is on the rise for SouFun Holdings (NYSE:SFUN) as well.

LDK Solar (NYSE:LDK) has reached theoretical highs and is extremely overbought. The stock is expected to take a breather now. Yingli Green Energy (NYSE:YGE) will not be able to fight the market either and is vulnerable to downside risk at this point. Trina Solar (NYSE:TSL), while not on top of the overbought screen, is also a in a tight spot should market turn into the red.

OB_20111207

There are no extremely oversold China stocks at the moment. More downside looks possible for China Sunergy (NASDAQ:CSUN) and for Acorn Int. (NYSE:ATV) as well.

OS_20111207

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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