Persistent Downtrend Evident in Price and Moving Averages
Race Eco Chain Ltd’s share price has been on a consistent downward trajectory, as reflected in its recent trading activity. The stock closed at ₹147.55 on 04-Dec, down ₹7.30 from the previous close, representing a 4.71% drop. This decline pushed the stock to its lowest level in the past year, signalling sustained selling pressure. Furthermore, the stock is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning indicates a bearish trend and suggests that short-term and long-term investor sentiment remains weak.
Underperformance Against Benchmarks and Sector
When compared with the benchmark Sensex, Race Eco Chain...
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