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CNinsure is now overbought!

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watch_out March 13, 2014 (Chinavestor) CNinsure Inc. (NASDAQ:CISG) remains on top of the overbought China stock chart. But all other previously overbought Chinese stocks declined. Perfect World (NASDAQ:PWRD), Renren Inc. (NYSE:RENN), and SouFun Holdings (NYSE:SFUN), just to name a few. And don't forget E Commerce China Dangang (NASDAQ:DANG). Based on those instances, downside risk exceeds upside potential for CNinsure (NASDAQ:CISG).

ADR_OB_03132014

This is how SouFun Holdings (NYSE:SFUN) and E Commerce China Dangdang (NASDAQ:DANG) were before the pull back. See both DANG and SFUN surged over two standard deviations above the mean. This is when blue line crossed above two stripes and went above trading ranges.

SFUN_20140305

DANG_Range_20140305

When it comes to oversold China stocks, Huaneng Power Int. (NYSE:HNP) and Canadian Solar (NASDAQ:CSIQ) dominate the following chart. Both HNP and CSIQ are considered oversold and thus ready to make a comeback.

ADR_OS_03132014

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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