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CHL, SFUN, YGE to watch on Monday

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watch_4 March 24, 2014 (Chinavestor) The overbought and oversold China stock monitor picked up the following stock extremes. China Mobile (NYSE:CHL), SouFun Holdings (NYSE:SFUN), Yingli Green Energy (NYSE:YGE) and Ku6 Media Co. (NASDAQ:KUTV). These stocks are extremely oversold and thus are ripe for a comeback.

Interestingly, there are no overbought Chinese stocks at extreme position. WSP Holdings (NYSE:WH) is trading closest to theoretical highs but is far from theoretical high prices. Huaneng Power (NYSE:HNP) is the first stock on the overbought screen worth paying close attention to. HNP has sufficient market cap and volume to make it investment grade. Other than that, it's hard to find highly liquid, good trading stocks on the move on the following monitor.

Instead, investors have to scroll down to the oversold monitor.

ADR_OB_20140324

China Mobile (NYSE:CHL) fell all the way to theoretical lows last week. CHL reported the first annual profit decline in 14 years, hurting the stock price. But China Mobile (NYSE:CHL) is a bargain at $41.6, according to the oversold monitor. CHL is trading way below its trading range and is expected to bounce back up.

SouFun Holdings (NYSE:SFUN) is also at theoretical lows but there is some difference between SFUN and CHL. Theoretical low price is way below its trading range for CHL where as there is not much of a difference for SFUN. This implies that CHL is more likely to bounce back than SFUN. Nevertheless, SouFun Holdings (NYSE:SFUN) is considered oversold as well.

Ku6 Media Co. (NASDAQ:KUTV) looks similar to SFUN. The stock is oversold albeit more downside looks possible.

Yingli Green Energy (NYSE:YGE) fell too hard, too much, according to the oversold monitor. This stock is oversold as well and is expected to bottom out or even to make a comeback soon.

ADR_OS_20140324

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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