Onward Technologies' Stock Shows Positive Trend, Outperforms Sector and Sensex on July 12th

Onward Technologies, a smallcap IT software company, saw a positive trend in its stock performance on July 12th, 2024. The stock gained 8.43%, outperforming the sector by 6.52%. This comes after two consecutive days of falling stock prices, indicating a potential trend reversal.

The stock opened with a loss of -3.4% today, but quickly recovered and touched an intraday high of Rs 459, a 10.84% increase from the previous day's close. However, it also touched an intraday low of Rs 400, showing high volatility with an intraday range of 6.85%.

Onward Technologies' stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, but below its 200-day moving average. This suggests a positive trend in the short term, but a potential long-term resistance.

In the IT software sector, Onward Technologies' stock has gained by 4.43%. This is in line with the overall performance of the sector, which has seen a 5.15% increase in the past month.

Compared to the Sensex, Onward Technologies' stock has outperformed with a 1-day performance of 8.83% versus the Sensex's 0.82%. In the past month, the stock has also outperformed the Sensex with a 11.81% increase compared to the Sensex's 5.15% increase.

Overall, Onward Technologies' stock has shown a positive trend in its performance, with a strong gain on July 12th and outperforming the sector and Sensex. Investors may want to hold onto their stock for now, as recommended by MarketsMOJO.