India's Caplin Point Laboratories hits near 2-year low

Caplin Point Laboratories

24/03/2023 05:11

** Shares of pharmaceutical co Caplin Point Laboratories
fall as much as 1.8% to 591.10 rupees, their lowest since June
3, 2021
    ** Stock on track to fall for a fourth consecutive session,
if losses hold 
    ** Caplin trading below its 50-day (673.05), 100-day
(704.10) and 200-day (725.69) simple moving avgs since Feb 21
    ** CAPL's relative strength index (RSI) seen below 30,
indicating that stock is oversold 
    ** Caplin's moving average convergence and divergence (MACD)
line has been below the signal line since March 13, 2023,
suggesting bearish momentum
    ** Over 61,000 shares change hands, 0.6x the 30-day moving
avg
    ** As of last close, stock down ~16% this year, extending
its ~17% decline in 2022 


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))