NB Footwear Faces Intense Selling Pressure Amid Consecutive Losses and Market Underperformance
NB Footwear Ltd. is experiencing notable selling pressure, with consecutive losses over the past three days totaling 8.82%. Despite a recent monthly rise of 23.22%, the stock has declined 23.84% over the last three months, underperforming both the Sensex and the leather sector.
NB Footwear Ltd. is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past three days, resulting in a total decline of 8.82%. Today alone, the stock fell by 4.88%, underperforming the Sensex, which decreased by only 0.36%.In the past week, NB Footwear's performance has been notably poor, with a decline of 5.47%, contrasting sharply with the Sensex's gain of 1.62%. Over the last month, however, the stock has shown a positive trend, rising by 23.22%, while the Sensex increased by 2.36%. Despite this recent uptick, the stock's longer-term performance reveals a troubling picture, with a 23.84% drop over the past three months compared to the Sensex's 4.77% gain.
The stock's current price is higher than its 20-day moving average but lower than its 5-day, 50-day, 100-day, and 200-day moving averages. Additionally, while the leather sector has gained by 2.06%, NB Footwear's performance has lagged significantly, indicating potential underlying issues contributing to the selling pressure.
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