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

Churchill Downs Incorporated, Virgin Galactic Holdings, Inc., HEXO Corp. are at the top of this list of down trending stocks.

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

Meanwhile, Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%.

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 continues a 16 day downtrend; slumps 1.62% yesterday

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 yesterday. Daily trading volume (355,668 shares) increased, making up 149% of the 21-day average (239,449).

| Virgin Galactic | 31.44% (88 cents) depreciation over 4 days (22 cents per day average)

After setting a $3.31 – $4 range, Virgin Galactic closed the day 16.54% lower at $3.38. Virgin Galactic traded at $3.38 after making its biggest single-day drop of 67 cents (16.54%) since Apr 4. After ending Thursday at $4.05, Virgin Galactic dropped to $3.31 early in yesterday's session and closed at $3.38. In total, it lost 16.54%. Daily trading volume (28.42 million shares) was above the current multiday average of 10.66 million.

| HEXO Corp. | 29.17% (27 cents) depreciation over 8 days (3.375 cents per day average)

After setting a 98 cents – $1.04 range, HEXO Corp. closed the day 12.82% lower at $1.02. Early in yesterday's session, HEXO Corp. dropped to 98 cents from $1.17 at the end of Thursday, before closing at $1.02. During the session, it lost 12.82%.
Daily trading volume (493,411 shares) increased, making up 166% of the 21-day average (297,801).