Emami shares signal bearishness, move in death cross patterns

Emami

19/12/2022 09:18

** Shares of Emami Ltd.  EMAM.NS  move in death cross
patterns since Dec. 16
    ** Death cross patterns occur when a security's short-term
moving average falls below its long-term moving average
    ** For Emami, the 50-day simple moving average (459.06
rupees) has fallen below the 200-day SMA (461.23 rupees) in the
last two sessions: Refinitiv data 
    ** The Moving Average Convergence Divergence (MACD) line was
below the signal line, suggesting bearing bias: Refinitiv data
    ** The stock fell over 1%, among the only four losers in
Nifty FMCG  .NIFTYFMCG  which rose 1.3%: Refinitiv data
    ** The stock has fallen 7.52% since reporting Y/Y decline in
consolidated net profit and revenue on Nov. 11, compared to
2.99% rise for Nifty FMCG
    ** The company also approved an interim dividend of 4 rupees
per share on Nov. 11 
    ** The consensus recommendation of 27 analysts tracking the
stock is 1.9, equivalent to "buy", and has remained so for the
last three months 
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))