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Tuesday, July 12, 2011

Overbought Stocks: (AEA), (WAC), (AMN), (MLI), (SUG)

On July 12, the following stocks were determined to be overbought: Advance America, Cash Advance Centers Inc, Walter Investment Management Corp, Ameron International Corporation, Mueller Industries Inc, and Southern Union Co. The demand for these stocks have pushed the prices of the underlying assets to levels that do not support the fundamentals. This is interpreted as a sign that the stocks are overvalued and may experience a pullback.

Shares of Advance America, Cash Advance Centers Inc (AEA) traded higher by 1.23% or $0.10/share to $8.24. In the past year, the shares have traded as low as $3.15 and as high as $8.44. On average, 373500 shares of AEA exchange hands on a given day and today's volume is recorded at 207753.

Shares of Walter Investment Management Corp (WAC) traded higher by 1.41% or $0.34/share to $24.48. In the past year, the shares have traded as low as $14.78 and as high as $24.99. On average, 390910 shares of WAC exchange hands on a given day and today's volume is recorded at 24193.

Shares of Ameron International Corporation (AMN) traded higher by 0.05% or $0.04/share to $85.25. In the past year, the shares have traded as low as $54.71 and as high as $86.03. On average, 105680 shares of AMN exchange hands on a given day and today's volume is recorded at 33500.

Shares of Mueller Industries Inc (MLI) fell by 0.38% or $-0.17/share to $44.78. In the past year, the shares have traded as low as $22.79 and as high as $45.03. On average, 228820 shares of MLI exchange hands on a given day and today's volume is recorded at 46363.

Shares of Southern Union Co (SUG) traded higher by 0.31% or $0.13/share to $41.73. In the past year, the shares have traded as low as $21.54 and as high as $42.53. On average, 2838430 shares of SUG exchange hands on a given day and today's volume is recorded at 58931.