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Monday, November 7, 2011

Is It Time To Sell These Overbought Stocks?: (HS), (GR), (ABMD), (AGP)

On November 7, the following stocks were determined to be overbought: HealthSpring Inc, Goodrich Corp, Abiomed Inc, and AMERIGROUP Corporation. 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 HealthSpring Inc (HS) traded higher by 0.02% or $0.01/share to $54.0. In the past year, the shares have traded as low as $25.84 and as high as $54.46. On average, 1698110 shares of HS exchange hands on a given day and today's volume is recorded at 173423.

Shares of Goodrich Corp (GR) traded higher by 0.11% or $0.13/share to $122.63. In the past year, the shares have traded as low as $79.18 and as high as $123.17. On average, 3697910 shares of GR exchange hands on a given day and today's volume is recorded at 120023.

Shares of Abiomed Inc (ABMD) traded higher by 0.37% or $0.07/share to $18.8. In the past year, the shares have traded as low as $8.97 and as high as $20.00. On average, 251230 shares of ABMD exchange hands on a given day and today's volume is recorded at 90528.

Shares of AMERIGROUP Corporation (AGP) fell by 0.14% or $-0.08/share to $58.0. In the past year, the shares have traded as low as $37.57 and as high as $75.74. On average, 1508290 shares of AGP exchange hands on a given day and today's volume is recorded at 74843.