Stocks that have significantly increased in price due a large demand are called overbought. This is often the case when there are too many buyers who push the price so high that it can’t be justified by company financials. When sellers start outweighing buyers, the price can change its direction. Another scenario that causes stocks to become overbought is when a company buys back its own stocks. Be careful when buying overvalued stocks as there could be a retracement.
|3007 Zahrat Al Waha For Trading Co.||53.10||5.57%||2.80||Buy||794.520K||754.500M||—||—||—||Basic Materials|
|4001 Abdullah Al Othaim Markets Company||146.00||-0.68%||-1.00||Buy||23.039K||6.615B||19.63||7.49||5097.00||Consumer Non-Cyclicals|
|4003 United Electronics Company||59.30||0.51%||0.30||Buy||270.406K||2.478B||19.46||3.03||2166.00||Consumer Cyclicals|
|4005 National Medical Care Company||54.00||9.98%||4.90||Buy||1.316M||2.202B||23.75||2.07||—||Healthcare|
|4140 Saudi Industrial Export Co.||269.20||9.97%||24.40||Buy||280.443K||264.384M||—||-20.20||—||Industrials|
|4150 Arriyadh Development Co.||20.10||1.01%||0.20||Buy||383.018K||2.653B||15.42||1.29||122.00||Financials|
|7010 Saudi Telecom||75.80||-0.66%||-0.50||Buy||129.696K||152.600B||15.00||5.09||—||Telecommunications Services|