Rism Cement declines 2.8 per cent on low volume

Rism Cement declines 2.8 per cent on low volume
03 June 2008

Prism Cement declined INR1.05 (or 2.8 per cent) to INR36.90. Compared with the BSE Sensex Index which fell 352.4 points (or 2.2 per cent) on the day, this represented a relative price change of -0.6 per cent. The aggregate volume was 0.2 times average trading of 1,611,520 shares. The stock fell for a third day on Monday.

Price Trend: The price fell 3.3 per cent in the last week and dropped 11.3 per cent in the last month. In the last three months the number of falls outnumbered rises 33:20 or 1.65:1.

Moving Average Price (MAP): In the past 200 days this ratio has been under 0.68 just twice suggesting a support level. The stock is trading below both its MAPs and the 50-day MAP of INR41.34 is lower than the 200-day MAP of INR54.21, a bearish indicator. The 200-day MAP has decreased to INR54.21. A decrease is another bearish indicator.

Breakdown: The stock traded at a two-month low of INR36.65 today. The bears are maintaining control with price open, high, low and close being below yesterday’s levels.
Published under Cement News