On October 20, the following stocks were determined to be overbought: El Paso Corp, NetLogic Microsystems Inc, Global Industries Ltd, Xyratex Ltd, and Temple-Inland 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 El Paso Corp (EP) traded higher by 2.46% or $0.60/share to $24.97. In the past year, the shares have traded as low as $12.48 and as high as $24.79. On average, 12629630 shares of EP exchange hands on a given day and today's volume is recorded at 6165009.
Shares of NetLogic Microsystems Inc (NETL) traded higher by 0.31% or $0.15/share to $48.76. In the past year, the shares have traded as low as $25.12 and as high as $48.80. On average, 3443400 shares of NETL exchange hands on a given day and today's volume is recorded at 398036.
Shares of Global Industries Ltd (GLBL) remained unchanged at $7.91. In the past year, the shares have traded as low as $3.09 and as high as $10.23. On average, 4538990 shares of GLBL exchange hands on a given day and today's volume is recorded at 352849.
Shares of Xyratex Ltd (XRTX) traded higher by 5.64% or $0.72/share to $13.48. In the past year, the shares have traded as low as $7.58 and as high as $17.17. On average, 365100 shares of XRTX exchange hands on a given day and today's volume is recorded at 435891.
Shares of Temple-Inland Inc (TIN) traded higher by 0.06% or $0.02/share to $31.52. In the past year, the shares have traded as low as $18.93 and as high as $31.65. On average, 4102340 shares of TIN exchange hands on a given day and today's volume is recorded at 223023.
