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Thursday, October 13, 2011

These Stocks Are Overbought: (GLBL), (HGIC)

On October 13, the following stocks were determined to be overbought: Global Industries Ltd, and Harleysville Group 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 0.13% or $0.01/share to $7.92. In the past year, the shares have traded as low as $3.09 and as high as $10.23. On average, 4558830 shares of GLBL exchange hands on a given day and today's volume is recorded at 168875.

Shares of Harleysville Group Inc (HGIC) fell by 0.02% or $-0.01/share to $58.71. In the past year, the shares have traded as low as $24.75 and as high as $59.08. On average, 175790 shares of HGIC exchange hands on a given day and today's volume is recorded at 12418.