On May 9, the following stocks were determined to be overbought: Standard Microsystems Corp, and Ardea Biosciences, 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 Standard Microsystems Corp (SMSC) fell by 0.30% or $-0.11/share to $36.46. In the past year, the shares have traded as low as $17.98 and as high as $36.88. On average, 440300 shares of SMSC exchange hands on a given day and today's volume is recorded at 111164.
Shares of Ardea Biosciences, Inc (RDEA) fell by 0.03% or $-0.01/share to $31.67. In the past year, the shares have traded as low as $13.15 and as high as $31.89. On average, 944240 shares of RDEA exchange hands on a given day and today's volume is recorded at 77879.
