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JOBS, SSW to shine again

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sun March 9, 2012 (Chinavestor) There are not too many overbought Chinese stocks to look at this morning. New Oriental Education (NYSE:EDU) is trading closest to theoretical high but Yucheng Tech (NASDAQ:YTEC) and ChinaEdu Corp. (NASDAQ:CEDU) look just as vulnerable. Giant Interactive (NYSE:GA) is also on the rise but has more upside potential left, according to the chart below. 51job Inc. (NASDAQ:JOBS) and Seaspan Corp. (NYSE:SSW) are looking good again, as well. For oversold stocks, please scroll down to the second chart on this page.

OB_20120309

There are no extremely oversold stocks at the moment but we have some big loosers. eLong Inc. (NASDAQ:LONG), ChinaCast Education (NASDAQ:CAST) and Deer Prod. (NASDAQ:DEER) are among those that fell below their trading range just lately. The problem is that none of them have reached or approached theoretical lows yet, leaving more room to the downside.

OS_20120309

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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