The 3 stocks attempting to buck their downtrends

Published: November 25 2022, 11:30 GMT+0

The 3 stocks attempting to buck their downtrends

Oatly Group AB, Arrival, Similarweb Ltd. and others have been slumping.

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

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.

9 days of losses drag on: Oatly bears in charge as markets close for Thanksgiving

Over the last 9 days, Oatly Group AB has fallen 34.69%. Wednesday's session continued the recent downtrend: pronounced bearish market sentiment ensured that the Swedish food company made a notable 4.19% loss Wednesday, declining 7 cents and ultimately closing at $1.6. Daily trading volume (4.64 million shares) was slightly greater than the current multiday average of 4.25 million.

Continuing a 7 day nosedive: Risk-off sentiment pushes Arrival to 5.51% loss Wednesday

Arrival's downtrend has seen it decline 31.96% in 7 days Wednesday's session continued the recent downtrend: an influx of sellers pushed the EV maker to end the session lower around 33.41 cents, while establishing a 32.02 cents to 35.99 cents session range Wednesday. Wednesday's trading volume was 7.55 million shares which is slightly under the 21-day average of 10.11 million.

A 7 day downtrend, falling 31.78%: Wednesday's lacklustre sentiment ensured Similarweb slid 1.09%

Wednesday's session continued down the same path: grinding lower but with no clear-cut direction, the US web analytics company closed the session at $4.53 after forming a distinct $4.45 – $4.63 range. Similarweb's bearish run has lasted 7 days so far (-$2.06). The day's trading volume totalled 74,171 shares — under the 21-day average of 173,588.

The company's market cap is $344.38 million with an average daily trading volume of 173,588 shares. The US web analytics company reached a significant high of $18.36 around 10 months ago but has lost 75.05% since then. Similarweb expected revenue of $49.14 million with an EPS of -27 cents.

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