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China stocks on the move, April 11

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advance7 April 11, 2012 (Chinavestor) RenRen Inc. (NYSE:RENN) is breaking out according to the overbought monitor. The good news is that the stock hasn't reached theoretical highs yet, leaving more room to the upside.

But China housing & Land Dev. (NASDAQ:CHLN) and E Commerce China Dangdang Inc. (NYSE:DANG) advanced too much, too fast and may need to take a break.

E-House Holding (NYSE:EJ) has been volatile lately while making a sound comeback in April. More upside is definitely possible, the stock price is just back at the lower end of its trading envelope.

OB_20120411

Lots of oversold stocks offer a chance for a comeback. Some of the most liquid stocks to follow include ReneSolar (NYSE:SOL), Sina Corp. (NASDAQ:SINA), Fushi Copperweld (NASDAQ:FSIN) and China Telecom (NYSE:CHA).

OS_20120411

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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