Why is Relic Tech. falling/rising?
As of 23-Oct, Relic Technologies Ltd's stock price is Rs 79.73, down 4.99%, and has underperformed its sector today. Despite strong long-term returns, recent trends show a decline in short-term performance and investor interest.
As of 23-Oct, Relic Technologies Ltd is experiencing a decline in its stock price, currently at Rs 79.73, which represents a decrease of 4.19 or 4.99%. The stock has underperformed its sector by 5.13% today and has fallen after two consecutive days of gains. It opened with a significant loss of 4.97% and reached an intraday low of Rs 79.73. Despite its impressive year-to-date return of 244.70% and a one-year return of 459.51%, the stock has seen a negative trend in the short term, with a 1-week return of -0.33% and a 1-month return of -3.35%. Additionally, there has been a notable drop in investor participation, with delivery volume falling by 47.1% against the 5-day average, indicating reduced interest in trading the stock.In the broader market context, the Sensex has shown a positive return of 1.30% over the past week and 2.99% over the past month, contrasting with Relic Technologies' recent underperformance. While the stock has outperformed the benchmark significantly over the longer term, the current short-term trends suggest a divergence from the broader market's upward movement. The stock's moving averages indicate that it is currently lower than the 20-day and 50-day moving averages, which may further contribute to the negative sentiment surrounding its price movement.
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