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China stocks are no easy money

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economy_6 January 5, 2012 (Chinavestor) Simcere Pharmaceutical (NYSE:SCR) remains overbought and although it took two days of breathing, downside risk remain high. China XD Plastics (NASDAQ:CXDC) will come under pressure should the stock price appreciation accelerate. Right now more upside is possible, according to the overbought monitor. Suntech Power (NYSE:STP) and ReneSola Ltd. (NYSE:SOL) are newcomers on the overbought monitor, a sign that solar stocks are bouncing off 2011 lows. Sina Corp. (NASDAQ:SINA) and 51job Inc. (NASDAQ:JOBS) are the most important plays on the oversold end of the China stock universe at this point. OB_20120105

Sina Corp. (NASDAQ:SINA) gave back 3.6% from a 6.7% run a day before on Wednesday. The stock is back on the oversold monitor albeit it is not oversold. 51job Inc. (NASDAQ:JOBS) is another internet play that is under pressure. The stock has been very volatile lately with more upside at this point than downside.

OS_20120105

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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