Meaning of overbought

o•ver•bought

Pronunciation: (ō'vur-bôt'), [key]
— adj.
  1. marked by prices considered unjustifiably high because of extensive buying:Cf. The stock market is overbought now.
—v.
  1. pt. and pp. of
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.