The 3 down-trending stocks that met bullish equities sentiment today

The main stocks that are plunging: Churchill Downs Incorporated, Canopy Growth Corporation, ZIM Integrated Shipping Services Ltd.

Markets closed higher today; Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 closed the day at 4,205.45, having gained 1.3%.

On the other hand, following a previous reading of 0.3%, Core Durable Goods Orders in United States released today at 12:30 UTC fell short of the 0% figure expected by analysts with an actual reading of -0.2%.

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.

| Churchill Downs Incorporated | 53.56% ($156.42) depreciation over 15 days ($10.43 per day average)

After setting a $137.46 – $141.15 range, Churchill Downs Incorporated closed the day 1.62% lower at $137.57. An influx of sellers pushed the horse track and gambling operator to session lows around $137.46 while establishing a $137.46 to $141.15 session range today. Daily trading volume (355,668 shares) was higher than the current multiday average of 267,044.

| Canopy Growth | 25% (28.69 cents) depreciation over 4 days (7.1725 cents per day average)

After setting a 83 cents – 90.4 cents range, Canopy Growth closed the day 0.66% lower at 87.73 cents. The Canadian cannabis supplier has recovered almost all of its session losses after dipping down to 83 cents today. Daily trading volume (16.18 million shares) was higher than the current multiday average of 9.73 million.

ZIM Integrated Shipping Services Ltd. continues a 6 day downtrend; slips 2.75% today

More of the same from today's session: grinding lower but with no clear-cut direction, the global container industry company closed the session at $13.78 after forming a distinct $13.67 – $14.41 range. After setting a $13.67 – $14.41 range, ZIM Integrated Shipping Services Ltd. closed the day 2.75% lower at $13.78. The day's trading volume totalled 2.58 million shares — under the 21-day average of 3.97 million.

The company is currently trading with a market cap of $1.66 billion with an average daily volume of 3.97 million shares. ZIM Integrated Shipping Services Ltd. has shed $56.13 points and is languishing 79.84% lower over the past year, leaving its yearly highs around $70.3 in the rear-view mirror. On a negative trend for around a month.