The 3 stocks attempting to buck their downtrends

Published: November 25 2022, 12:30 GMT+0

The 3 stocks attempting to buck their downtrends

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.

A 9 day downtrend, falling 34.69%: 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: an influx of sellers pushed the dairy alternative producer to end the session lower around $1.6, while establishing a $1.58 to $1.7 session range Wednesday. Daily trading volume (4.64 million shares) was slightly above the current multiday average of 4.25 million.

Falls for 7 days and losing 31.96%, Arrival bears in charge as markets close for Thanksgiving

Wednesday's session continued down the same path: pronounced bearish market sentiment ensured that the electric vehicles supplier made a notable 5.51% loss Wednesday, declining 1.95 cents and ultimately closing at 33.41 cents. Arrival's downtrend has seen it decline 31.96% in 7 days Wednesday's trading volume was 7.55 million shares which is slightly under the 21-day average of 10.11 million.

The company has a market cap of $213.27 million with an average daily trading volume of 10.11 million shares. 11 months ago the EV maker 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%.

Continuing a 7 day nosedive: Bearish mood pushes Similarweb to session low of $4.45

More of the same from Wednesday's session: 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 has lost 31.78% over the last 7 days. Wednesday's trading volume was 74,171 shares which is below the 21-day average of 173,588.

Similarweb has a market cap of $344.38 million with an average daily 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 is forecasted to generate revenues of $49.14 million and EPS of -27 cents.