August 25, 2011 (Chinavestor) Technicals matter, suggests the latest pullback of China Mobile (NYSE:CHL), Perfect World (NASDAQ:PWRD) and China Eastern Airlines (NYSE:CEA). Agria Corp. (NYSE:GRO) surged over 20% but volume was not all that indicative of a sustainable rally. Trading stock Melco Crown Entertainment (NASDAQ:MPEL) is down 10% for the last five days and is among the most oversold China stocks. But the worst may not be over for Vanceinfo Technologies (NYSE:VIT), according to the oversold monitor. Shanda Interactive (NASDAQ:SNDA) is stuck on the oversold screen after its online game arm, Shanda Games (NASDAQ:GAME) reported lukewarm quarterly report.
Chinese solar stocks remain active after some key earnings. LDK Solar (NYSE:LDK), Yingli Green energy (NYSE:YGE) and Suntech Power (NYSE:STP) all attracted over average volume as investors try to sort out the latest financials. China Life Insurance (NYSE:LFC) reported a 20% decline in earnings and is falling fast, albeit is not oversold yet.
China Mobile (NYSE:CHL) fell despite a strong showing of the DJIA. Investors locked in profits of China's largest mobile operator and sent shares of smaller China Unicom (NYSE:CHU) and China Telecom (NYSE:CHA) soaring. China Mobile (NYSE:CHL) is not overbought but additional upside is in limbo right now. China Telecom reports quality earnings
Perfect World (NASDAQ:PWRD) took a breather on Wednesday after a large jump a day before. The good news is that when earnings are behind such surges, stock prices don't come back. More upside is possible for Perfect World (NASDAQ:PWRD) now that it took a break.
China Eastern Airline (NYSE:CEA) pulled back and is ready to go higher again. The stock has been trading in a narrow range with a potential to break out. Same is true for China Southern Airlines (NYSE:ZNH), China's largest carrier by fleet size.
China XD Plastics (NASDAQ:CXDC) is not at extremes despite a jump following record earnings. More upside is possible, according to the overbought chart. CXDC Jumps 38%. What's next?
Agria Corp. (NYSE:GRO), a company that lost 50% of its value YTD, is fighting for survival on the NYSE. The stocks surged 26.3% on Wednesday but is still under the $1 mark NYSE requires. The company was notified of "non-compliance with minimum average closing price" just a month ago. From a technical point of view, more upside is possible.
There has been a lot of activity within the solar sector. LDK Solar (NYSE:LDK), Yingli Green energy (NYSE:YGE) and Suntech Power (NYSE:STP). Yingli Green Energy (NYSE:YGE) beat estimates and issued a bullish outlook last week. One darling, one dog - YGE vs CSUN. But LDK Solar (NYSE:LDK) disappointed at the same time. All eyes turned to Suntech Power (NYSE:STP) on Monday and to Trina Solar (NYSE:TSL) on Tuesday to get a better assessment of the sector. Rank of Chinese solar makers based on Q2.