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Jet Airways (India) Ltd faces downtrend in share price, “Strong Sell” by MarketsMOJO

Jet Airways (India) Ltd faces downtrend in share price, “Strong Sell” by MarketsMOJO

Jet Airways (India) Ltd, a microcap airline company, witnessed a downtrend in its share price and touched a 52-week low of Rs. 35.01 on October 24, 2024. This has prompted a “Strong Sell” call from MarketsMojo. The stock has underperformed the sector by -5.11% and has seen a decline of -11.81% in the last 5 days. It is currently trading below its moving averages, indicating a bearish trend. Over the past year, the stock has fallen -38.75%, highlighting its poor performance compared to the Sensex’s positive growth of 24.00%. Strong competition and various factors such as rising fuel costs and an economic slowdown may have contributed to this decline. Investors should consider these factors carefully before investing in Jet Airways (India) Ltd. invest.

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Jet Airways (India) Ltd, a microcap airline company, is witnessing a downward trend in its share price. On October 24, 2024, the company’s stock touched a 52-week low of Rs. 01/35 This has led to a “Strong Sell” call from MarketsMOJO, a leading stock market analysis platform.

The stock’s performance today was disappointing, underperforming the sector by -5.11%. In fact, Jet Airways has been on a downward spiral over the past five days, registering a -11.81% decline in returns over the period. The stock also touched an intraday low of Rs. 35.01, down -4.63%.

Jet Airways is currently trading below its 5-day, 20-day, 50-day, 100-day and 200-day moving averages, indicating a bearish trend in the stock. This is a cause for concern for investors as it suggests that the company’s stock price is not showing positive momentum.

Last year, Jet Airways saw its share price decline by -38.75% while Sensex recorded a positive growth of 24.00%. This further highlights the company’s poor market performance.

As a microcap company, Jet Airways faces stiff competition in the highly competitive aviation industry. The recent decline in the stock price can be attributed to various factors such as rising fuel costs, increasing competition and an economic slowdown. Investors should carefully consider these factors before making investment decisions regarding Jet Airways (India) Ltd. meet.