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QIHO, RENN, SVM, CYOU to watch today

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eye February 11, 2014 (Chinavestor)The overbought China stock monitor picked up some interesting trading stocks this morning. Renren Inc. (NYSE:RENN) has sound momentum while Silvercorp Metals (NYSE:SVM) and Qihoo 360 Technology (NYSE:QIHU) closed above their trading range. The oversold monitor on the bottom of page shows that Changyou.com Inc. (NASDAQ:CYOU) became extremely oversold after yesterday's crash.

Back to the overbought China stock screen. Telestone Technologies (NASDAQ:TSTC) is on top of the chart but investors can ignore this "no trading volume" stock. Instead, Renren Inc. (NYSE:RENN) is worth paying attention to. This social media site has made a remarkable comeback. Good news is that Renren (NYSE:RENN) is not considered overbought despite recent advance.

Silvercorp Metals (NYSE:SVM) is trading above its trading envelope. The size of the arrow indicates lack of true or sustainable momentum. It is difficult to say where the stock is going to go from here.

Qihoo 360 Technology (NYSE:QIHU) is very similar to SVM from a technical point of view. Slight difference between the two is that Qihoo 360 Technology (NYSE:QIHU) has been trading above its trading envelope for the last two weeks, making it more vulnerable.

ADR_OB_20140211

There is one truly oversold China stock this morning. Changyou.com Inc. (NASDAQ:CYOU) fell from the high end of its trading envelope to theoretical lows. The stock is expected to bottom out or bounce back up.

ADR_OS_20140211

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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