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Internet stocks on sale, SOHU, SINA

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sale2 July 18, 2012 (Chinavestor) China Green Agriculture (NYSE:CGA) and China Eastern Airlines (NYSE:CEA) are overbought and are ready to take a breather, according ot the chart below. China Southern Airlines (NYSE:ZNH) is also a stock of interest along with Synutra International (NYSE:SYUT). For more stock extremes scroll down to the oversold chart. Sina Corp. (NASDAQ:SINA), Sohu.com Inc. (NASDAQ:SOHU) and NetEase.com (NASDAQ:NTES) are among those stock extremes.

OB_20120718

Sina Corp. (NASDAQ:SINA) is oversold as well as Sohu.com (NASDAQ:SOHU) and GigaMedia Ltd. (NASDAQ:GIGM). This suggests both internet darlings have bottomed out, at least temporarily.

Liquid NASDAQ listing NetEase.com (NASDAQ:NTES) and Ctrip.com Int. (NASDAQ:CTRP) fell hard but hasn't reached theoretical lows yet though. New Oriental Education (NYSE:EDU) is oversold but again, is not touching theoretical lows. Given the nature of the decline, investor investigation, EDU may remain under water for quite some time.

OS_20120718

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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