India's Trident Ltd hits 1-1/2-year low

Trident

21/03/2023 08:13

** Shares of textile and paper manufacturer Trident Ltd
 TRIE.NS  fall as much as 2% to 27.50 rupees, hitting their
lowest since Sept. 30, 2021
    ** Stock has been trading below its 50-, 100-, and 200-day
moving averages since Dec. 20, 2022, even though it briefly
crossed the 50-day moving average on Jan. 31 and Feb. 1
    ** Relative Strength Index (RSI) is below 30, suggesting the
stock is oversold 
    ** Moving Average Convergence Divergence (MACD) line below
the signal line since March 14, indicating bearish bias
    ** More than ~4.3 mln shares change hands by 1:20 p.m. IST,
1.1x 30-day avg of ~3.9 mln shares
    ** Stock down 18.1% so far this year, up to last close

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((Dimpal.Gulwani@thomsonreuters.com;))