It since has worked through its oversold status and appears poised to break upward once more. The current chart shows XIN at the cusp of breaking out of a small ascending triangle and/or inverse head and shoulders. The other thing is that the stock is currently at the bottom of a fairly large upward channel. So there is likely to be some strong resistance to any further downside.
Of course, a head and shoulders reversal could be about to break to the downside at the channel line. But more likely the next move is upward we think.
Another interesting visual showing that we are nearing a moment of decision is in the weekly chart.
Looking at the 50 and the 200 you can see how after the sharp move up at the beginning of the year XIN has been consolidating, being bounded on the top by the 200 and on the bottom by the 50.