On September 12, the following stocks were determined to be overbought: Global Industries Ltd, and NetLogic Microsystems 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 Global Industries Ltd (GLBL) traded higher by 51.26% or $2.64/share to $7.79. In the past year, the shares have traded as low as $3.09 and as high as $10.23. On average, 1583020 shares of GLBL exchange hands on a given day and today's volume is recorded at 21157856.
Shares of NetLogic Microsystems Inc (NETL) traded higher by 50.02% or $15.96/share to $47.87. In the past year, the shares have traded as low as $22.95 and as high as $43.71. On average, 1511810 shares of NETL exchange hands on a given day and today's volume is recorded at 12385783.
