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CTRP big day on Monday is OK

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thumbs_up June 17, 2014 (Chinavestor) Ctrip.com International (NASDAQ:CTRP) surged on Monday while the rest of the market looked on. CTRP jumped $2.81 on Monday, by far the most among other Chinese ADRs. 51job Inc. (NASDAQ:JOBS) came in next but followed CTRP from a distance. Sinopec Shanghai Petrochemical (NYSE:SHI) was the third major Chinese listings on the NYSE and NASDAQ combined that advanced more than just a dollar for the day. See following chart for a list of the best and worst Chinese stocks on Monday.


 

mover_20140616

The good news is that despite an unusual advance, Ctrip.com Intl. (NASDAQ:CTRP) is not considered overbought! The stock may have approached theoretical high prices but her overall momentum is still within check. If anything, China Digital TV Holding (NYSE:STV) is overbought. See following chart for details.

ADR_OB_20140617

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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