Time to Look for Hot Chinese Stocks: Youku up 29 percent while Renren and Sina gains 8.57 percent and 6.05 percent respectively

It is probably the best time to invest in Chinese stocks as the most of the analysts have predicted the Chinese tech bubble. We take a look at these stocks to bring you the latest insight. 

Youku.com Inc (NYSE:YOKU) seems to be moving in a strong bullish rally. The share price touched the high of $37.64 yesterday however closed at $35.54 reporting the surge of 29 percent. Youku’s jump was sure backed by good volume numbers as its traded volume stood at 21.98 million shares as compared to its average traded volume of 4.48 million shares per day. Despite high volume figure major technical indicators have not signaled a strong upward change. However MACD Moving Averages Convergence Divergence indicates starting of a upward move as the MACD line crosses the trigger line in upward direction. 

Renren Inc (NYSE:RENN) also gained 8.57 percent to close at $7.60. Huge volume also backed the surge of RENN as total volume stood at 15.84 million shares as compared to its average traded volume of 7.69 million shares per day. The share price is trading at a relative strength index of 51 which shows that it has considerable margin for upward movement. If we look at its price history the share price is trading near its lowest level in last 52 weeks and is likely to face resistance at $24 which also happens to be its highest in last one year.

SINA Corporation (NASDAQ:SINA) also gained 6.05 percent to close at $100.54 in yesterday’s session. Traded volume stood at 12.06 million shares against the average traded volume figure of 10.98 million shares per day. Keeping in view the latest Chinese tech bubble, one can say that SINA could reach up to $147 level which is also its highest in last one year. If you are thinking about to invest in SINA probably you should also consider its relative strength index of 72.16 which depicts that the stock is trading at its overbought level. 

Among other hot Chinese tech stocks Sohu.com Inc (NASDAQ:SOHU) jumped 3.95 percent to $70.97 while Baidu.com Inc (NASDAQ:BIDU) was up by 2.25 percent to $136.17.