Overbought Stock Alert: (WDC), (RBN), (PRX), (PLFE), (ACAS)
On August 15, the following stocks were determined to be overbought: Western Digital Corp, Robbins & Myers Inc, Par Pharmaceutical Companies Inc, Presidential Life Corp, and American Capital, Ltd. 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.