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KUTV, JOBS at extremes

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decline_8 March 26, 2014 (Chinavestor) The overbought and oversold China stock monitor picked up the following stock extremes. Huaneng Power Intl. (NYSE:HNP) on the overbought monitor and 51jobs Inc. (NASDAQ:JOBS), Ku6 Media (NASDAQ:KUTV), WuXi Pharmatech (NYSE:WX), and Melco Crown Entertainment (NASDAQ:MPEL) on the oversold monitor. There are no overbought stock extremes to speak of this morning. Huaneng Power International (NYSE:HNP) rose unexpectedly strong over the last two weeks. This is reflected in the size of the arrow. But investors have to take that with a grain of salt. HNP hit a bottom two weeks ago and thus current advance is unusually strong due to a lower base.

ADR_OB_20140326

The oversold monitor picked up some real stock extremes. Ku6 Media (NASDAQ:KUTV) not only reached theoretical lows but is well below its trading range. SouFun Holdings (NYSE:SFUN) is similarly oversold. Melco Crown Entertainment (NASDAQ:MPEL) fell too, hard, too fast as well. Bit MPEL hasn't reached theoretical lows yet. Pressure is on to the downside for MPEL.

51job Inc. (NASDAQ:JOBS) has reached theoretical lows and is expected to bottom out or even to bounce back, based on the oversold indicator below.

ADR_OS_20140326

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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