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  • Chinese ADR's Signal Weak Relative Strength 0 comments
    Dec 6, 2011 10:55 AM | about stocks: BIDU, SOHU, SINA, NTES, RENN, CHU
    Since April 2011, the important and highly followed Shanghai Index (China) has been under selling pressure. This leading Asian stock index has lead the U.S. and global stock markets for the past five years. At this time, the Shanghai Index remains very weak despite investors near term focus being placed on the European markets.

    Baidu Inc (NASDAQ:BIDU) is the leading Chinese ADR in the stock market at this time. This stock looks to be trading in the middle of a wide trading range. The high end of the range is around the $150.00 level, the low end of the range is around the $115.00 area. Traders should follow BIDU stock to see which way this stock moves. This stock is likely to signal the near term strength or weakness in the Chinese ADR's.

    Some leading Chinese ADR's that have been weak recently include Sina Corp (NASDAQ:SINA), Renren Inc (NYSE:RENN), and Sohu.com Inc (NASDAQ:SOHU). These stocks are trading below the daily chart 50, and 200 moving averages which puts these stocks in a weak technical chart position. , Therefore, until these stocks can regain the daily chart 50 moving average these stocks are susceptible to further declines in the near future.      

    Some Chinese ADR's that are holding up well include China Unicom Ltd (NYSE:CHU), and Netease.com Inc (NASDAQ:NTES). Both of these stocks are trading above the daily chart 50, and 200 moving averages, this put these stocks in a strong technical chart position.

    Nicholas Santiago
    InTheMoneyStocks.com


    Stocks: BIDU, SOHU, SINA, NTES, RENN, CHU
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