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SINA, CTRP have upside potential

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bear_bull August 27, 2012 (Chinavestor) There are no overbought China stock extremes after Friday's pull back. Chinese telecoms, China Unicom (NYSE:CHU) and China Telecom (NYSE:CHA) are looking a lot better than earlier last week. Sina Corp. (NASDAQ:SINA) and Crip.com International (NASDAQ:CTRP) are well positioned to take advantage of any positive market sentiment.

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Tudou Hol. (NASDAQ:TUDO) is not oversold ,the stock is simply delisted from the NASDAQ after its all stock merger with larger rival Youku Inc. (NYSE:YOKU). KongZhong Inc. (NASDAQ:KONG) and Sutor Technology (NASDAQ:SUTR) haven't reached theoretical lows yet, more downside is possible.

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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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