Jet Freight Logistics Faces Intense Selling Pressure Amid Significant Price Decline
Jet Freight Logistics Ltd is experiencing significant selling pressure, with today's trading showing only sellers. Despite a recent outperformance over the Sensex, the stock has faced a notable decline today and has struggled over the year and past three years, reflecting broader economic challenges in the logistics sector.
Jet Freight Logistics 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 4.97%, contrasting sharply with the Sensex, which has gained 0.35% on the same day. This marks a trend reversal for Jet Freight, which had previously enjoyed three consecutive days of gains.Over the past week, Jet Freight has outperformed the Sensex with a 23.15% increase, but this performance has not been sustained, as evidenced by its year-to-date decline of 16.28%, while the Sensex has risen by 3.38%. The stock's performance over the last three years is particularly concerning, with a staggering drop of 43.98%, compared to the Sensex's impressive gain of 45.02%.
Despite today's downturn, Jet Freight is still trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The current selling pressure may be attributed to various factors, including market sentiment and broader economic conditions affecting the logistics sector.
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