On November 7, the following stocks were determined to be overbought: Global Industries Ltd, Medivation, Inc, Inhibitex, Inc, NetLogic Microsystems Inc, and Seagate Technology PLC. 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) fell by 0.13% or $-0.01/share to $7.96. In the past year, the shares have traded as low as $3.09 and as high as $10.23. On average, 4822400 shares of GLBL exchange hands on a given day and today's volume is recorded at 66014.
Shares of Medivation, Inc (MDVN) traded higher by 1.44% or $0.60/share to $42.2. In the past year, the shares have traded as low as $10.96 and as high as $44.93. On average, 838760 shares of MDVN exchange hands on a given day and today's volume is recorded at 343372.
Shares of Inhibitex, Inc (INHX) traded higher by 10.77% or $0.92/share to $9.46. In the past year, the shares have traded as low as $1.89 and as high as $9.45. On average, 940320 shares of INHX exchange hands on a given day and today's volume is recorded at 6231633.
Shares of NetLogic Microsystems Inc (NETL) fell by 0.04% or $-0.02/share to $49.28. In the past year, the shares have traded as low as $25.83 and as high as $49.39. On average, 3371220 shares of NETL exchange hands on a given day and today's volume is recorded at 180858.
Shares of Seagate Technology PLC (STX) fell by 1.58% or $-0.29/share to $18.05. In the past year, the shares have traded as low as $8.95 and as high as $18.50. On average, 10569960 shares of STX exchange hands on a given day and today's volume is recorded at 2375436.
