Negative Breakout: These 11 stocks cross below their 200 DMAs
In the Nifty200 pack, the closing prices of 16 stocks fell below their 200-day moving averages on January 8, according to StockEdge.com's technical scan data. Of these, we highlighted 11 stocks that slipped more than 2.5%. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look: Downside Ahead
In the Nifty200 pack, the closing prices of 16 stocks fell below their 200-day moving averages on January 8, according to StockEdge.com's technical scan data. Of these, we highlighted 11 stocks that slipped more than 2.5%. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look: Downside Ahead
What's Your Reaction?
:max_bytes(150000):strip_icc()/GettyImages-2187410260-5afe56694791404f99c253dd8d5abe6a.jpg?#)
