The 3 stocks attempting to buck their downtrends

Churchill Downs Incorporated, Virgin Galactic Holdings, Inc., HEXO Corp. have been the noticable stocks on a downtrend. Here is what you need to know.

Leading equity indices in the US rose as 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, following a previous reading of 0.3%, Core Durable Goods Orders in United States released yesterday at 12:30 UTC fell short of the 0% figure expected by analysts with an actual reading of -0.2%.

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; 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 end the session lower around $137.57, 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)

More of the same from yesterday's session: after ending Thursday at $4.05, Virgin Galactic declined to $3.31 yesterday before closing at $3.38, thereby losing 16.54% in total. 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. Daily trading volume (28.42 million shares) was higher than the current multiday average of 10.66 million.

The space tourism spearhead's market cap currently stands at $955.14 million with an average daily trading volume of 10.66 million shares. The space tourism spearhead is now trading 34.36% below its 3-month high of $8.25. So far this year, it has been under-performing the Nasdaq by 23.03%. Trading mostly sideways for 5 months. Virgin Galactic has a forecast of $1.16 million with an EPS of -52 cents.

| 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. After ending Thursday at $1.17, HEXO Corp. dropped to 98 cents early in yesterday's session and closed at $1.02. In total, it lost 12.82%. Daily trading volume (493,411 shares) increased, making up 166% of the 21-day average (297,801).