China’s stock market has been surging lately, and investors in the US have been riding the wave with a number of Chinese ADRs. Below we’ve run the 30 largest Chinese ADRs through our trading range screen. For each stock, the dot represents where it’s currently trading, while the tail end represents where it was trading one week ago. The black vertical “N” line represents the stock’s 50-day moving average, while moves into the red or green zones are considered overbought or oversold.
As you can see, the bulk of the largest Chinese ADRs are trading in overbought territory (19 of 30 in fact). Names like JD.com (JD), 58.com (WUBA), Jumei International (JMEI), Sohu.com (SOHU) and Seaspan (SSW) are on fire — all trading more than two standard deviations above their 50-days.
While a good chunk of ADRs on the list are already up more than 40% year-to-date, the two biggest China ADRs are actually down on the year. Alibaba (BABA) is down 18.31%, while Baidu (BIDU) is down 6.14%. These two names have, however, experienced a nice move higher within their trading ranges over the last week. BABA is now testing its 50-day, while BIDU has surged from oversold territory up to the top of its range over the last 5 trading days.