On June 29, the following stocks were determined to be overbought: Pacira Pharmaceuticals Inc, Reynolds American Inc, Lincare Holdings Inc, and Orexigen Therapeutics, 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 Pacira Pharmaceuticals Inc (PCRX) traded higher by 3.49% or $0.57/share to $16.92. In the past year, the shares have traded as low as $6.51 and as high as $16.50. On average, 329820 shares of PCRX exchange hands on a given day and today's volume is recorded at 52699.
Shares of Reynolds American Inc (RAI) traded higher by 0.97% or $0.43/share to $44.56. In the past year, the shares have traded as low as $30.10 and as high as $44.14. On average, 2894160 shares of RAI exchange hands on a given day and today's volume is recorded at 140273.
Shares of Lincare Holdings Inc (LNCR) fell by 0.17% or $-0.05/share to $32.24. In the past year, the shares have traded as low as $19.17 and as high as $33.19. On average, 1539400 shares of LNCR exchange hands on a given day and today's volume is recorded at 2214829.
Shares of Orexigen Therapeutics, Inc (OREX) traded higher by 4.58% or $0.27/share to $6.17. In the past year, the shares have traded as low as $1.22 and as high as $5.95. On average, 1956150 shares of OREX exchange hands on a given day and today's volume is recorded at 5699573.
