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

Churchill Downs Incorporated, Virgin Galactic Holdings, Inc., HEXO Corp. and others have been dropping. Here is what you should know.

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

On the other hand, United States Core Durable Goods Orders published yesterday at 12:30 UTC came out at -0.2%, falling short of the 0% projections and continuing its decline from the previous 0.3% 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.

| Churchill Downs Incorporated | continues a 16 day decline; decreases 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 racing enabler to session lows around $137.46 while establishing a $137.46 to $141.15 session range yesterday. Daily trading volume (355,668 shares) was above the current multiday average of 239,449.

Virgin Galactic continues a 4 day downtrend; drops 16.54% yesterday

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 declined to $3.31 yesterday before closing at $3.38, thereby losing 16.54% in total. Daily trading volume (28.42 million shares) was higher than the current multiday average of 10.66 million.

| HEXO Corp. | continues an 8 day decline; dips 12.82% yesterday

After setting a 98 cents – $1.04 range, HEXO Corp. closed the day 12.82% lower at $1.02. After ending Thursday at $1.17, HEXO Corp. declined to 98 cents yesterday before closing at $1.02, thereby losing 12.82% in total. Daily trading volume (493,411 shares) increased, making up 166% of the 21-day average (297,801).