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

Published: November 25 2022, 10:30 GMT+0

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

Oatly Group AB, Arrival, Similarweb Ltd. and others have been dropping. Here is what you should know.

Markets had an interesting day Wednesday; Nasdaq ended the session at 11,300 after a 0.99% gain. S&P 500 gained 0.59% and closed at 4,027.26.

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.

Retreats for 9 days and shedding 34.69%: Oatly lost 4.19% Wednesday, closed at $1.6

Having fallen 78 cents in 9 days, more of the same from Wednesday's session: pronounced bearish market sentiment ensured that the dairy alternative producer made a notable 4.19% loss Wednesday, declining 7 cents and ultimately closing at $1.6. Daily trading volume (4.64 million shares) increased, making up 109% of the 21-day average (4.25 million).

Drops for 7 days and losing 31.96%, Arrival sheds 5.51% within 32.02 cents to 35.99 cents daily range

More of the same from Wednesday's session: an influx of sellers pushed the electric vehicles supplier to end the session lower around 33.41 cents, while establishing a 32.02 cents to 35.99 cents session range Wednesday. Having fallen 13.74 cents in 7 days, the day's trading volume totalled 7.55 million shares — slightly under the 21-day average of 10.11 million.

Arrival's market cap is currently $213.27 million with an average daily volume of 10.11 million shares. 11 months ago the electric vehicles supplier reached a significant high of $9.66 but has consequently lost 96.34% since then. So far in 2022, it has been under-performing the Nasdaq by 54.77%.

A 7 day downtrend, falling 31.78%: Bearish Similarweb declines 5 cents (1.09%)

Wednesday's session continued down the same path: despite the risk-off mood, Similarweb was range-bound between $4.45 to $4.63 and settled at $4.53. Similarweb's bearish run has lasted 7 days so far (-$2.06). Wednesday's trading volume was 74,171 shares which is lower than the 21-day average of 173,588.

Similarweb is currently trading with a market cap of $344.38 million with an average daily trading volume of 173,588 shares. Approximately 10 months ago, the web traffic analytics specialist reached a significant high of $18.36 but has struggled to hold onto its gains and declined 75.05% since then. Similarweb has a forecast of $49.14 million with an EPS of -27 cents.

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