Recent Price Movement and Sector Context
The stock’s fall on 21-Nov was sharper than the overall steel sector, which itself declined by 2.61% on the day. Beekay Steel underperformed its sector by 1.13%, with the weighted average price indicating that more volume traded near the day’s low. Additionally, the stock is trading below all key moving averages—5-day, 20-day, 50-day, 100-day, and 200-day—signalling a sustained bearish trend. Investor participation has increased, as evidenced by a 136.77% rise in delivery volume on 20 Nov compared to the five-day average, suggesting heightened selling pressure.
Underperformance Against Benchmarks
Over the past week and month, Beekay Steel’s returns have been negative at -5.53% and -8.34% respectively, whi...
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