3 down-trending stocks stuck in range-bound markets

Published: November 25 2022, 16:30 GMT+0

3 down-trending stocks stuck in range-bound markets

The main stocks that are plunging: Oatly Group AB, Novavax, Inc., Iovance Biotherapeutics, Inc.

Markets are mixed with Dow Jones up 0.51%, trading at 34,369. Nasdaq trades at 11,233 after losing 0.47%.

What is a downtrend?

A trend is the overall direction of a market or an asset's trading price over a certain period. A downtrend is when the price is generally pointing downwards; there can be certain periods of time when the price increases, yet the trend remains in a downward direction.

A 9 day downtrend, falling 35.1%: Oatly currently down 0.63% prior to afternoon session

Oatly Group AB has been losing ground for 9 days, shedding a total of 35.1% of its value. more of the same today: while bearish sentiment is dominating the market, the Swedish food company is maintaining its poise around $1.59 while ranging between $1.58 and $1.66 so far today.

A 9 day downtrend, falling 34.07%: Novavax currently down 3.05% prior to afternoon session

In the last 9 days, Novavax has lost a total of 34.07% of its value. similar trend today: the US vaccine developer slides down from $17.03 to $16.51, losing 52 cents (3.05%).

9 days of losses drag on: Iovance Biotherapeutics currently down 1.05% prior to afternoon session

While on a 9 day downtrend, dropping a total of 30.69%, more of the same today: while bearish sentiment is dominating the market, the Californian biopharmaceutical startup is maintaining its poise around $6.16 while ranging between $6.09 and $6.29 so far today.

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