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JOBS on fire, more upside

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advance8 November 9, 2012 (Chinavestor) Better than expected earnings propelled 51job Inc. (NASDAQ:JOBS) to the top of the overbought chart. Good news is that despite the 8% plus surge yesterday, the stock is not considered extremely overbought.This implies more upside is possible. Liquid stocks of interest on the following chart include Ctrip.com Int. (NASDAQ:CTRP) and NetEase.com Inc. (NASDAQ:NTES) among others.

OS_20121109

While JOBS and NTES have momentum, internet darling Baidu.com Inc. (NASDAQ:BIDU) is on top of the oversold chart. Good news is that BIDU has approached theoretical lows and is expected to bottom out. Other notable stocks on the oversold screen include TSL, CHU, CHA among others.

OB_20121109

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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