On October 26, the following stocks were determined to be overbought: Global Industries Ltd, El Paso Corp, SemGroup Corporation, Seagate Technology PLC, 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 0.38% or $0.03/share to $7.94. In the past year, the shares have traded as low as $3.09 and as high as $10.23. On average, 4610240 shares of GLBL exchange hands on a given day and today's volume is recorded at 716681.
Shares of El Paso Corp (EP) fell by 0.43% or $-0.11/share to $25.44. In the past year, the shares have traded as low as $12.48 and as high as $25.61. On average, 13463730 shares of EP exchange hands on a given day and today's volume is recorded at 2186486.
Shares of SemGroup Corporation (SEMG) traded higher by 0.34% or $0.10/share to $29.1. In the past year, the shares have traded as low as $16.55 and as high as $34.28. On average, 407320 shares of SEMG exchange hands on a given day and today's volume is recorded at 86208.
Shares of Seagate Technology PLC (STX) traded higher by 2.50% or $0.39/share to $16.0. In the past year, the shares have traded as low as $9.05 and as high as $17.92. On average, 10139610 shares of STX exchange hands on a given day and today's volume is recorded at 3765756.
Shares of NetLogic Microsystems Inc (NETL) remained unchanged at $49.1. In the past year, the shares have traded as low as $25.83 and as high as $49.25. On average, 3494280 shares of NETL exchange hands on a given day and today's volume is recorded at 172029.
