Bharat Forge Ltd. saw its shares drop by 2.21% to Rs 1240.95 on Wednesday. During the day, the stock reached a high of Rs 1279.90 and a low of Rs 1240.85.
Looking at the technical charts, the stock’s 200-day moving average (200-DMA) is at Rs 1457.6, while the 50-day moving average (50-DMA) is at Rs 1344.56. When a stock is above both the 50-DMA and 200-DMA, it usually shows an upward trend. Conversely, if it is below both averages, that indicates a downward trend. If it lies between these averages, it could go either way.
Currently, Bharat Forge’s stock is trading below the signal line of the MACD (Moving Average Convergence Divergence), which means there is a bearish outlook. The MACD helps investors identify changes in trends. It calculates the difference between two average prices over different time frames.
The Relative Strength Index (RSI) for the stock is 32.69. An RSI below 30 suggests that a stock is oversold, while an RSI above 70 indicates it is overbought.
Additionally, Bharat Forge has a Return on Equity (RoE) of 13.28% and a Return on Capital Employed (RoCE) of about 9.37%. The RoCE measures how well a company uses its capital to make a profit, while RoE shows how profitable a business is relative to the money invested by shareholders.
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