The 3 stocks attempting to buck their downtrends

Published: November 25 2022, 08:30 GMT+0

The 3 stocks attempting to buck their downtrends

The main stocks that are plunging: Oatly Group AB, Arrival, Similarweb Ltd.

Leading equity indices in the US rose as Nasdaq closed the day at 11,300, having gained 0.99%. S&P 500 ended the session at 4,027.26 after a 0.59% gain.

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.

Continuing a 9 day nosedive: Risk-off mood drags Oatly 4.19% lower

Over the last 9 days, Oatly Group AB has fallen 34.69%. Wednesday's session continued the recent downtrend: pronounced bearish sentiment in the market pushed the dairy alternative producer into a notable 4.19% slide Wednesday, falling 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).

Continuing a 7 day nosedive: Arrival suffers weak session with 5.51% loss; downside halted at 32.02 cents

Arrival has lost 31.96% over the last 7 days. Wednesday's session continued down the same path: pronounced bearish sentiment in the market pushed the EV maker into a notable 5.51% slide Wednesday, falling 1.95 cents and ultimately closing at 33.41 cents. Wednesday's trading volume was 7.55 million shares which is slightly under the 21-day average of 10.11 million.

Retreats for 7 days and losing 31.78%, Risk-off mood drags Similarweb 1.09% lower

Having fallen $2.06 in 7 days, more of the same from Wednesday's session: despite the risk-off mood, Similarweb was range-bound between $4.45 to $4.63 and settled at $4.53. The day's trading volume totalled 74,171 shares — under the 21-day average of 173,588.

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