Mega Corporation Ltd Faces Intense Selling Pressure Amid Significant Price Declines

Mega Corporation Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a reversal after two consecutive days of gains, as the stock has declined by 1.62% in today's trading session. In comparison, the Sensex has decreased by only 0.42%, indicating that Mega Corporation is underperforming relative to the broader market.
Over the past week, the stock has gained 1.11%, but this is overshadowed by a notable decline of 9.90% over the past month. The three-month performance reveals a staggering drop of 47.85%, while year-to-date, the stock has plummeted by 54.84%. Despite a positive annual performance of 18.98%, the longer-term outlook shows a decline of 3.21% over three years, contrasting sharply with the Sensex's impressive 35.44% gain during the same period.

The stock's current price performance is also underwhelming, as it has underperformed its sector by 0.98%. The moving averages indicate that while the stock is higher than its 5-day moving average, it remains below the 20-day, 50-day, 100-day, and 200-day moving averages, further highlighting the prevailing selling pressure.