Recent Price Movement and Market Performance
The stock’s decline on 01-Dec was accompanied by an intraday low of Rs. 43.50, with trading volumes weighted towards the lower price levels, indicating selling pressure. Relicab Cable underperformed its sector by 4.21% on the day, and it is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical weakness suggests a bearish sentiment among investors.
Investor participation has also waned, with delivery volumes on 28 Nov falling by 12.74% compared to the five-day average, signalling reduced buying interest. Despite the stock’s liquidity being sufficient for sizeable trades, the downward momentum remains strong.
Long-Term Underperformance...
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