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Overbought MPEL, SYUT, FMCN, NPD

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advance_8 March 26, 2013 (Chinavestor) There are a couple overbought Chinese ADRs today. Synutra Int. (NASDAQ:SYUT) and Focus Media Holdings (NASDAQ:FMCN) are trading close to theoretical highs. This implies downside risk exceeds upside potential. China Nepstar (NYSE:NPD) advanced too fast, too much, as well. Melco Crown Ent. (NASDAQ:MPEL) is trading well above its trading envelope as the following chart suggests.

OB_20130326

Chinese solar stocks took the lead on the oversold chart. Suntech's bankruptcy is huring the sector. ReneSola Lt.d (NYSE:SOL), JA Solar (NASDAQ:JASO) are oversold. Petrochina Co. Ltd. (NYSE:PTR) fell unexpectedly and may bounce back up in the rest of the week.

OS_20130326

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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