Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

CHU gets overbought by Friday

E-mail Print PDF

warning3 August 9, 2013 (Chinavestor) China Unicom (NYSE:CHU) surged 6.74% on Thursday capping its 1 month straight advance. But now the stock is considered overbought and is ready for a technical correction, according to the following chart.

Phoenix New Media (NASDAQ:FENG) has started to plateau and is expected to do so for the next few days. The stock is not overbought to the extremes yet but has increased downside risk.

Noah Education (NYSE:NED) advanced too much, too fast, according to the chart below. But this stock is of low trading quality, e.g. lacking trading volume, and as such technical indicators are not necessarily are accurate.

ADR_OB_20130809

Sohu.com Inc. (NASDAQ:SOHU) and its former online gaming subsidiary Changyou.com Ltd. (NASDAQ:CYOU) dominate the oversold screen on Friday. Sohu.com Inc. (NASDAQ:SOHU) held a briefing on its 2013 Q3 earnings and outlook, devastating both SOHU and CYOU. Remember, CyOU is Sohu's profit driver and any significant change on CYOU's earnings has a significant effect on SOHU's bottom line as well. As far as their short term outlook goes, both SOHU and CYOU fell hard but are still within their trading envelopes. This indicates more downside is possible.

ADR_OS_20130809

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.

aexpl-obos



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!

Free weekly newsletter

Get hot China stock news every Monday