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ZX in danger but SINA, HMIN good to go

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warning3 August 21, 2012 (Chinavestor) China Zenix Auto (NYSE:ZX) jumped 13% on Monday and is overbought, but that's due to lack of volume and a narrow trading range before. ReneSola Ltd. (NYSE:SOL) is on fire but Home Inns & Hotels Management (NASDAQ:HMIN) lost some of its shine after getting a bit too overbought. Sina Corp. (NASDAQ:SINA) took a breather as well and is not overbought anymore. Visit the overbought chart below for additional stocks on the move.

OB_20120821

NetEase Inc. (NASDAQ:NTES) remains oversold but it is not an extremely oversold stock just yet. More downside looks possible. Same is true for KongZhong Corp. (NASDAQ:KONG) and CNinsure (NASDAQ:CISG).

OS_20120821

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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