Acme Resources Faces Intense Selling Pressure Amid Ongoing Price Declines

Acme Resources Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has experienced a notable decline of 4.99%, underperforming the Sensex, which is down by only 0.61%. This marks a continuation of a troubling trend, as Acme Resources has recorded consecutive days of losses, raising concerns among market observers.
Over the past week, the stock has shown a slight gain of 1.58%, but this is overshadowed by its performance over the last three months, where it has plummeted by 38.48%, compared to the Sensex's decline of 9.40%. Year-to-date, Acme Resources has dropped 18.12%, while the Sensex has decreased by 5.75%.

The stock's current price performance is also concerning, as it has fallen below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Today's trading saw the stock hit an intraday low of Rs 39.81. The persistent selling pressure may be attributed to various factors, including market sentiment and broader economic conditions affecting the finance/NBFC sector.