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6 Oversold Stocks Ready to Bounce Higher

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Ctrip.com International (CTRP - Get Report) is a leading travel service provider of hotel accommodations. The company was founded in 1999 and is headquartered in Shanghai, China. Ctrip.com trades an average of 3.2 million shares per day with a marketcap of $2.4 billion.

I am not a big fan of Chinese stocks due to the lack of SEC authority over them. That said, based on the chart setups, CTRP is oversold.


I should add that I have used CTRP many times and found the service very good. One person's opinion on service is not a make or break reason to invest in a company, but what is important is that I can confirm they are a real company and very popular in China.

Currently, the total number of buy recommendations is three, and nine analysts believe the best course of action is to hold. The average analyst target price for CTRP is $24.00, and the next resistance level is near $22.75.

I am most attracted to the July $16 strike put options for 55 cents or more if they can be sold this week. My profit target is 50 cents.

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SYM TRADE IT LAST %CHG
SDS $20.52 -1.30%
CTRP $45.16 -0.46%
EA $57.45 0.47%
PLCM $13.91 0.65%
PBR $6.38 -3.80%

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DOW 18,282.11 +149.41 0.82%
S&P 500 2,115.94 +11.44 0.54%
NASDAQ 5,002.19 +38.6630 0.78%

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