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HMIN has more upside left

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advance_8 August 28, 2013 (Chinavestor) Most momentum Chinese stocks declined on Tuesday except for Home Inns & Hotels Management (NASDAQ:HMIN). This Chinese hotel chain stock continues to advance and is not considered overbought despite latest strides.

ADR_OB_20130828

China Digital TV (NYSE:STV) became oversold for it is trading next to theoretical lows. But technical indicators work bests for liquid stocks and STV is not one of them. This means investors have to take STV's technical reading with a big grain of salt.

51job Inc. (NASDAQ:JOBS), CNinsure Inc. (NASDAQ:CISG) are not oversold. See following chart for details.

ADR_OS_20130828

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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