On July 3, the following stocks were determined to be overbought: Investors Real Estate Trust, Smart Balance, Inc, MAP Pharmaceuticals, Inc, Brightpoint Inc, and Reynolds American 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 Investors Real Estate Trust (IRET) traded higher by 1.50% or $0.12/share to $8.1. In the past year, the shares have traded as low as $6.44 and as high as $8.11. On average, 339700 shares of IRET exchange hands on a given day and today's volume is recorded at 68946.
Shares of Smart Balance, Inc (SMBL) traded higher by 2.70% or $0.27/share to $10.27. In the past year, the shares have traded as low as $4.47 and as high as $10.03. On average, 500500 shares of SMBL exchange hands on a given day and today's volume is recorded at 376422.
Shares of MAP Pharmaceuticals, Inc (MAPP) traded higher by 1.36% or $0.21/share to $15.98. In the past year, the shares have traded as low as $10.54 and as high as $17.91. On average, 342580 shares of MAPP exchange hands on a given day and today's volume is recorded at 103005.
Shares of Brightpoint Inc (CELL) fell by 1.17% or $-0.11/share to $8.9. In the past year, the shares have traded as low as $4.50 and as high as $12.04. On average, 1640010 shares of CELL exchange hands on a given day and today's volume is recorded at 1472645.
Shares of Reynolds American Inc (RAI) traded higher by 0.09% or $0.04/share to $45.56. In the past year, the shares have traded as low as $30.10 and as high as $45.53. On average, 2877680 shares of RAI exchange hands on a given day and today's volume is recorded at 340453.
