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BIDU is not overbought, more upside likely

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advance_11 April 13, 2012 (Chinavestor) One of the hottest stock on the overbought chart is RenRen Inc. (NYSE:RENN). China's Facebook is almost overbought given the pace of the advance. Baidu.com Inc. (NASDAQ:BIDU) is trading closest to theoretical highs on the overbought chart but the good news is that the stock is FAR from being overbought. This suggests a lot of upside potential is still there following Google's earnings. New Oriental Education & Technology (NYSE:EDU) is still looking good.

 

OB_20120413

Most oversold stocks moved off theoretical lows yesterday. Renesola Ltd. (NYSE:SOL) may advance along the rest of the solar industry. China Eastern Airlines (NYSE:CEA) is bottoming out with and may climb back to the low end of its trading range somewhere to $18 or more.

most othe stocks on the oversold screen are low cap, not too liquid stocks, making predictions too vague.

OS_20120413

 

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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