On June 7, the following stocks were determined to be overbought: Standard Microsystems Corp, Ardea Biosciences, Inc, Progress Energy Inc, Consolidated Edison Inc, and ReachLocal, 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) traded higher by 0.05% or $0.02/share to $36.64. In the past year, the shares have traded as low as $17.98 and as high as $36.88. On average, 539200 shares of SMSC exchange hands on a given day and today's volume is recorded at 36204.
Shares of Ardea Biosciences, Inc (RDEA) fell by 0.03% or $-0.01/share to $31.95. In the past year, the shares have traded as low as $13.15 and as high as $31.97. On average, 1024660 shares of RDEA exchange hands on a given day and today's volume is recorded at 70671.
Shares of Progress Energy Inc (PGN) traded higher by 0.76% or $0.43/share to $57.12. In the past year, the shares have traded as low as $40.60 and as high as $56.74. On average, 2476170 shares of PGN exchange hands on a given day and today's volume is recorded at 213456.
Shares of Consolidated Edison Inc (ED) traded higher by 0.73% or $0.45/share to $61.72. In the past year, the shares have traded as low as $47.17 and as high as $61.47. On average, 1487380 shares of ED exchange hands on a given day and today's volume is recorded at 350579.
Shares of ReachLocal, Inc (RLOC) traded higher by 1.77% or $0.20/share to $11.5. In the past year, the shares have traded as low as $6.05 and as high as $21.73. On average, 135500 shares of RLOC exchange hands on a given day and today's volume is recorded at 21907.
