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CEA, ZNH ripe for bottom fishing

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bottom_fishing_1 April 24, 2014 (Chinavestor) Here is today's overbought and oversold China stock list. Small caps continue to rule the overbought screen. Petrochina (NYSE:PTR), NetEase Inc. (NASDAQ:NTES), Aluminum Corp. of China (NYSE:ACH) and Renren Inc. (NYSE:RENN) are notable stocks on the first screen. Chinese airliners, CEA and ZNH, are stocks of interest on the oversold screen.

ADR_OB_20140424

China Eastern Airlines (NYSE:CEA) and China Southern Airlines (NYSE:ZNH) are trading at unusually low prices and have stepped below the trading range. This implies both stocks are nearing the bottom.

Other notable stocks are Sohu.com Inc. (NASDAQ:SOHU) and China Life Insurance (NYSE:LFC). See oversold China stock list below.

ADR_OS_20140424

Finally, here is the most volatile Chinese stock list from yesterday.

mover_20140423

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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