Risk aversion pushes these downward trending stocks even lower

Published: January 25 2023, 20:30 GMT+0

Risk aversion pushes these downward trending stocks even lower

ProShares UltraShort FTSE Europe, Enphase Energy Inc, ADT Inc. and others have been slumping.

The leading indices were losing ground — Nasdaq drawing back 0.25% to 11,300. S&P 500 slipping 0.12% and closing at 4,012.32.

This downslide might be related to financial indicators data published earlier as United States Crude Oil Inventories published today at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure.

What is a downtrend?

The perceived tendency of a price to move in a downward direction over time. A downtrend describes the price movement of a continously depreciative financial asset over a particular time frame. In a downtrend, each successive low and peak is lower than the ones found earlier in the trend. The downtrend is therefore composed of lower swing lows and lower swing highs.

| ProShares UltraShort FTSE Europe | a $2.08 (-16.84%) fall over 16 days

Having fallen 0.65% from $10.69 in the current session, ProShares UltraShort FTSE Europe is now trading at $10.62. As the session draws to a close, ProShares UltraShort FTSE Europe is recovering but is not all the way back to $10.69 after dipping down to $10.59 today.

| Enphase Energy | stumbles to $210.05 while on a 6 day downtrend

Having fallen 4.29% from $219.47 in the current session, Enphase Energy is now trading at $210.05. As the current session draws to a close, the energy technology company is hovering around the $210.05 level after closing yesterday at $219.47 and dropping by 4.29%. As things stand, trading volume is at 5.93 million, above the 21-day average of 4 million.

ADT continues a 7 day downtrend; decreases 2.48% this session

Having fallen 2.48% from $8.68 in the current session, ADT is now trading at $8.46. ADT falls 21.5 cents as trading session draws to a close around the $8.46 level. Just recently, ADT's board disclosed a quarterly dividend of 3.5 cents per share and subsequently paid on Wednesday, January 4th for all shareholders of record up until Thursday, December 15th. The company's decision thereby provides ADT investors with an annualised dividend yield of 1.65% (based on current prices).

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