Supreme Petrochem's Stock Sees Dip, But Moving Averages Remain Strong

Supreme Petrochem, a midcap company in the chemicals industry, has recently seen a dip in its stock price. On August 5th, 2024, the company's stock fell by -5.91%, underperforming the sector by -1.77%. This has led to a 'Strong Buy' call by MarketsMOJO for the stock.

The stock has been on a consecutive fall for the past two days, with a -6.57% decrease in returns during this period. On the same day, the stock also touched an intraday low of Rs 804.55, a decrease of -5.97%. However, despite this recent dip, the stock's moving averages are still higher than the 50 day, 100 day, and 200 day moving averages.

In comparison, the chemicals sector as a whole has also seen a decline of -3.99%. However, despite this, Supreme Petrochem's 1 day and 1 month performance is still better than the Sensex's performance, with a -5.23% and -4.38% decrease respectively, compared to the Sensex's -2.91% and -1.71% decrease.

While the stock may have seen a recent dip, it is important to note that this is a midcap company in a volatile industry. Investors should always do their own research and consult with a financial advisor before making any investment decisions. However, with a 'Strong Buy' call from MarketsMOJO and the stock's strong moving averages, Supreme Petrochem may be a company to keep an eye on in the future.