On August 22, the following stocks were determined to be overbought: Randgold Resources Ltd, Central GoldTrust, Petrohawk Energy Corporation, and Motorola Mobility Holdings, Inc. 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 Randgold Resources Ltd (GOLD) traded higher by 2.03% or $2.23/share to $112.22. In the past year, the shares have traded as low as $70.01 and as high as $110.07. On average, 802660 shares of GOLD exchange hands on a given day and today's volume is recorded at 387414.
Shares of Central GoldTrust (GTU) traded higher by 0.41% or $0.31/share to $75.26. In the past year, the shares have traded as low as $47.44 and as high as $77.56. On average, 99960 shares of GTU exchange hands on a given day and today's volume is recorded at 65706.
Shares of Petrohawk Energy Corporation (HK) traded higher by 0.16% or $0.06/share to $38.74. In the past year, the shares have traded as low as $14.32 and as high as $38.72. On average, 11209320 shares of HK exchange hands on a given day and today's volume is recorded at 850472.
Shares of Motorola Mobility Holdings, Inc (MMI) traded higher by 0.45% or $0.17/share to $38.03. In the past year, the shares have traded as low as $20.77 and as high as $38.73. On average, 5846090 shares of MMI exchange hands on a given day and today's volume is recorded at 7385071.
