The phrase "overbought readings" refers to a situation where the price of a stock or other asset has risen too much and too quickly. It suggests that the asset might be overvalued and due for a potential drop in price. Full definition
We have been urging investors to load up on the dips, as the long - term picture still looks bright for precious metals, and although we are nearing short - term overbought readings, gold will likely test the $ 1300 level soon. (hacked.com)
The good news for you is that the pair is flashing overbought readings. (hacked.com)
Since then, the stock has been correcting to shed overbought readings. (hacked.com)