Time again for another screen of the SelfInvestors.com database -this time around I’ve chosen to filter the database to return to me all the ADR’s i’m currently tracking, listed in order of Fundamental Rank.  Many are extended past a proper buy point, but there are a few interesting set ups I’d like to highlight on both the long and short side.

To see a screenshot of the Top 8 ADR’s currently in the system, you can click here.  If you’re not currently a free member of SelfInvestors.com you can sign up to receive the full list of ADRs via an excel spreadsheet.  Current members may access the download at this page.

So, here’s a couple on the long side I’d like to highlight – China Medical (CMED), Tenaris (TS) and Internet Initiative (IIJI).

After a tremendous run through most of November, CMED is currently carving out what looks like a decent bullish triangle pattern.  That high volume reversal at the top is a bit of a concern, but as long as the stock continues to find support around 30 and volume continues to dry up, the stock has a good chance of staging a nice break from the pattern.  Look for the stock to spend some more time filling out the pattern before making a significant move from here.

I think this chart looks great despite the fact that it is a late stage base (so prone to a higher rate of failure).  The stock broke out of a double bottom base with good volume above 120 and has been quietly consolidating around the break out point.  If the stock drops below support around 120 with heavy volume, I’d move on with just a very small loss.  Nice reward vs. risk trade here.

IIJI staged an impressive breakout on Dec 1st, then reversed sharply  the very next day.  I haven’t been able to determine exactly why the reverse happened, but it’s probably a combination of the secondary offering, a bearish "Cramer" call and general weakness within the industry.  Notice that the selling hasn’t been particulary intense as sell volume continues to decrease.  I’m typically a little wary of stocks that make wild swings like this, but if the stock can find support at the 50 day moving average and bounce with good volume, it might provide a nice swing trade for a quick profit.

I’ve noticed a few decent looking short set ups amongst the ADR’s too.

It’s amazing how similar the charts of PKX and MBT look.  Both appear to be on the verge of another breakdown if they can’t hold current support levels (as outlined in the charts below).   

CBI has bounced back after the selloff due to alleged accounting improprieties which led to a delay in reporting results.  These kinds of problems tend to linger for a long time, holding the stock price down.  The stock is currently meeting resistance of the 50 day moving average as buy volume wanes.. setting up an interesting short trade.  I’d probably wait and see how it does with potential support at the 200 day moving average (25/share) before making any decision on a short trade.