Feb. 2, 2010 (Chinavestor) A significant change has been taking place on the overbought and oversold monitors as most Chinese ADRs bounced back up on Monday. There is not any technically overbought China stock yet though Acorn Int. is standing out. Large cap China Southern Airlines (NYSE:ZNH), and Huaneng Power (NYSE:HNP) looks to have sustainable momentum.
Most oversold China stocks shifted into higher gear on Monday but Hurray! Holdings (NASDAQ:HRAY), Focus Media (NASDAQ:FMCN) and 3SBio (NASDAQ:SSRX) remain oversold. This in turn suggests a turnaround for these plays will have to wait - though a strong market day might just be a catalyst these stocks need.
While not on the monitor, Ctrip.com (NASDAQ:CTRP) has been showing strength ahead of earnings. The company is going to report after the close on Tuesday. Baidu.com (NASDAQ:BIDU) has been a very volatile play with a $13.97 advance on Monday suggesting more trading opportunities lay ahead.
Most overbought Chinese stocks
Most oversold Chinese stocks
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