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China stocks to watch after Xmas

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advance_8 December 27, 2011 (Chinavestor) The good news is that there are no overbought China stock extremes today. Seaspan Corp. (NYSE:SSW) is trading closest to theoretical highs but is far from being overbought. ChinaCast Education (NASDAQ:CAST), LDK Solar (NYSE:LDK) and Fushi Copperweld (NASDAQ:FSIN) have solid momentum from last week but are volatile stocks by nature. China XD Plastics (NASDAQ:CXDC) is another interesting stock to follow lately from the overbought screen. Stocks of interest on the oversold screen include Jiayuan.com International Ltd. (NASDAQ:DATE), E-House Holdings (NYSE:EJ), Baidu.com Inc. (NASDAQ:BIDU) and Sina Corp. (NASDAQ:SINA).

Back to the overbought screen. Seaspan Corp. (NYSE:SSW) continues to enjoy strong money flows. Chinavestor keeps track of sector money flows for Chinese stocks and we picked up an unusual uptick in the transportation sector. Ever since Seaspan Corp. (NYSE:SSW) has been strong with sound momentum going forward. The stock is looking good from a technical point of view as well as the overbought chart testifies.

Small cap ChinaCast Education (NASDAQ:CAST) and China Transinfo (NASDAQ:CTFO) are hard to read by technical indicators. These stocks had a wild ride in the past and thus investors have to exercise caution going forward.

LDK Solar (NYSE:LDK) pulled back last Friday and is looking good going ahead. But this is a high risk / high return stock, something investors should not forget. Outlook for Chinese PV manufacturers depends on outlook in Europe, something that's been very volatile in the past. Nevertheless upside is possible for the stock according to the screen below.

China XD Plastics (NASDAQ:CXDC) and Fushi Copperweld (NASDAQ:FSIN) are stocks with sound momentum. Both are trading abiove their 50-DMA and 200-DMA, a good sign for chartists. 

OB_20111227

A good size bump last week helped offset earlier losses of  Jiayuan.com International Ltd. (NASDAQ:DATE). The stock is trading just below its trading envelope and is not oversold anymore.

E-House Holdings (NYSE:EJ) has been trading in a narrow range lately and is back to 52 week lows. While the stock is not considered oversold, investors should give it a second look.

Baidu.com Inc. (NASDAQ:BIDU) and Sina Corp. (NASDAQ:SINA) are not oversold per say but are still among the 25 most oversold stocks today. Needless to say, both value stocks offer upside potential!

OS_20111227

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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