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Friday, October 28, 2011

Is It Time To Sell These Overbought Stocks?: (PLX), (NETL), (XRTX), (LNG)

On October 28, the following stocks were determined to be overbought: Protalix BioTherapeutics, Inc, NetLogic Microsystems Inc, Xyratex Ltd, and Cheniere Energy, 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 Protalix BioTherapeutics, Inc (PLX) fell by 0.31% or $-0.02/share to $6.47. In the past year, the shares have traded as low as $4.06 and as high as $10.60. On average, 192770 shares of PLX exchange hands on a given day and today's volume is recorded at 13720.

Shares of NetLogic Microsystems Inc (NETL) fell by 0.02% or $-0.01/share to $49.32. In the past year, the shares have traded as low as $25.83 and as high as $49.36. On average, 3505790 shares of NETL exchange hands on a given day and today's volume is recorded at 51754.

Shares of Xyratex Ltd (XRTX) traded higher by 0.29% or $0.04/share to $13.86. In the past year, the shares have traded as low as $7.58 and as high as $17.17. On average, 414410 shares of XRTX exchange hands on a given day and today's volume is recorded at 12437.

Shares of Cheniere Energy, Inc (LNG) traded higher by 1.30% or $0.14/share to $10.62. In the past year, the shares have traded as low as $3.12 and as high as $12.81. On average, 3020060 shares of LNG exchange hands on a given day and today's volume is recorded at 1418861.