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No more upside for SYUT, CHLN

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bull_bear_4 June 15, 2012 (Chinavestor) There hasn't been much change since yesterday on the overbought monitor except for China Housing and Land Development (NASDAQ:CHLN) and Synutra Int. (NASDAQ:SYUT). Huaneng Power (NYSE:HNP), China Transinfo (NASDAQ:CTFO) and Spreadtrum Comm. (NASDAQ:SPRD) continue to lead the overbought monitor. But with price of oil on the rise, HNP may well turn back closer to its trading envelope's price range.

OB_20120615

Small cap stocks dominate the oversold screen this morning. Any iof the following names have a chance to bounce back up: SSRX, ATV, GRO, CHNR and CEDU.

OS_20120615

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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