Southern Magnesium & Chemicals Ltd Hits All-Time High, But Receives 'Sell' Call from MarketsMOJO

Southern Magnesium & Chemicals Ltd, a microcap company in the non-ferrous metal industry, has recently hit an all-time high on May 4th, 2024. The stock, which is currently trading at Rs.305.95, has been given a 'Sell' call by MarketsMOJO.

Despite reaching a new 52-week high, the stock has underperformed the sector by -9.17% today. This could be attributed to the fact that the stock has fallen after 9 consecutive days of gains. However, it did open with a gain of 3.71% today and touched an intraday high of Rs.305.95.

On the other hand, the stock also touched an intraday low of Rs.280.25, showing a volatile trading pattern. It is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

In comparison, the non-ferrous metal sector has gained by 6.73%. This indicates that while the sector is performing well, Southern Magnesium & Chemicals may not be keeping up with its peers.

Looking at the company's performance over the past year, Southern Magnesium & Chemicals has seen a significant increase of 297.58%, while the Sensex has only seen a 20.73% increase. This shows that the company has been performing well in the market.

Overall, Southern Magnesium & Chemicals Ltd has reached a new high, but with a 'Sell' call from MarketsMOJO and underperformance in the sector, investors may want to carefully consider their options before making any decisions.