On January 23, the following stocks were determined to be overbought: RAM Energy Resources, Inc, Cobalt International Energy, Inc, Ascena Retail Group Inc, Zhongpin, Inc, and Capella Education Co. 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 RAM Energy Resources, Inc (RAM) traded higher by 1.79% or $0.07/share to $3.97. In the past year, the shares have traded as low as $0.60 and as high as $4.13. On average, 1451430 shares of RAM exchange hands on a given day and today's volume is recorded at 671334.
Shares of Cobalt International Energy, Inc (CIE) traded higher by 3.65% or $0.73/share to $20.73. In the past year, the shares have traded as low as $6.30 and as high as $20.67. On average, 1372180 shares of CIE exchange hands on a given day and today's volume is recorded at 249258.
Shares of Ascena Retail Group Inc (ASNA) traded higher by 0.48% or $0.17/share to $35.62. In the past year, the shares have traded as low as $24.00 and as high as $35.50. On average, 798230 shares of ASNA exchange hands on a given day and today's volume is recorded at 42227.
Shares of Zhongpin, Inc (HOGS) traded higher by 0.61% or $0.07/share to $12.32. In the past year, the shares have traded as low as $6.60 and as high as $19.49. On average, 275450 shares of HOGS exchange hands on a given day and today's volume is recorded at 32458.
Shares of Capella Education Co (CPLA) traded higher by 5.19% or $2.14/share to $43.37. In the past year, the shares have traded as low as $26.12 and as high as $64.48. On average, 169550 shares of CPLA exchange hands on a given day and today's volume is recorded at 62408.
