On May 3, the following stocks were determined to be overbought: Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, and Standard Microsystems Corp. 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 Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) traded higher by 0.17% or $0.06/share to $35.96. In the past year, the shares have traded as low as $29.26 and as high as $37.00. On average, 445290 shares of TLK exchange hands on a given day and today's volume is recorded at 65657.
Shares of Standard Microsystems Corp (SMSC) remained unchanged at $36.43. In the past year, the shares have traded as low as $17.98 and as high as $36.60. On average, 368870 shares of SMSC exchange hands on a given day and today's volume is recorded at 451421.
