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More upside for GSH, XIN, CEA

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advance5 February 28, 2013 (Chinavestsor) U.S. listed Chinese stocks piggybacked the Dow on Wednesday and some became overbought, according to the following chart. Phoenix New Media (NASDAQ:FENG) and Ku6 Media Co. (NASDAQ:KUTV) reached theoretical highs and are ready to take a breath. Large cap Guangshen Rail (NYSE:GSH) and Huaneng Power (NYSE:HNP) are not overbought despite latest advance. Same is true for Xinyuan Real Estate (NYSE:XIN), a stock that rose the most among Chinese ADRs on Wednesday.

OB_20130228

Stocks moved away from extreme oversold position on Wednesday. Cogo Group (NASDAQ:COGO), China BAK Battery (NASDAQ:CBAK) and E Commerce China (NASDAQ:DANG) have downside risk left as a result, according to the oversold monitor.

OS_20130228

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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