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Friday, April 27, 2012

Buying Overdone In These Names: (SKX)

On April 27, the following stocks were determined to be overbought: Skechers USA 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 Skechers USA Inc (SKX) traded higher by 1.77% or $0.30/share to $17.26. In the past year, the shares have traded as low as $11.21 and as high as $20.73. On average, 871920 shares of SKX exchange hands on a given day and today's volume is recorded at 635790.