December 29, 2011 (Chinavestor) What do investors do when corporate and economic news are scarce or don't move the market? When investors are on a break sending trading volume to the bottom?
This is a time for technical indicators - and we're going to review some of the very basic yet widely followed ones. Investors tend to like stocks that are trading above 50-DMA and 200-DMA at the same time. Taking look at the China stocks universe, it's only a handful of them right now. Sure ,we have Noah Education Holding (NYSE:NED) and the like, but investors should only touch stocks with sufficient trading volume and price. Unfortunately, NED is not one of them.
But here are these momentum stocks and they tend to hold up well in the past five trading days as well.
Momentum China Stocks in the past 5 days
But there is a list of stocks that are looking good from a technical point of view and are of a high trading quality. Fushi Copperweld (NASDAQ:FSIN) just joined the club a few days ago.We just published this article: Fushi Copperweld Joins Elite.
Other stocks of interest include Seaspan Corp. (NYSE:SSW), Sinopec (NYSE:SNP), Huaneneg Power (NYSE:HNP), China XD Plastics (NASDAQ:CXDC) and China Unicom (NYSE:CHU). For a detailed, stock specific chart, visit China momentum stocks before Xmas.