RACL Geartech's Stock Drops -7.0% After MarketsMOJO Labels it as 'Strong Sell'

RACL Geartech, a smallcap company in the auto ancillary industry, has seen a decline of -7.0% in its stock price on October 3rd, 2024. This drop has been reflected in the stock call given by MarketsMOJO, which has labeled it as a 'Strong Sell'.

The stock is currently trading close to its 52-week low, with a difference of only 2.47%. It has also underperformed the sector by -4.32% today. This trend reversal comes after two consecutive days of gains for the company's stock. Additionally, RACL Geartech opened with a loss of -5.43% today and touched an intraday low of Rs 942.05 (-8.72%).

The company's stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a downward trend. The auto ancillary sector as a whole has also seen a decline of -2.63%.

In comparison to the Sensex, RACL Geartech's stock performance has been -7.01% in the past day and -4.32% in the past month, while the Sensex has only seen a decline of -2.14% and -0.11%, respectively.

While the reasons for this decline in RACL Geartech's stock price are not mentioned, investors should keep an eye on the company's performance and future developments in the auto ancillary industry.