TAL Education Group, Sibanye Stillwater Limited, Sirius XM Holdings Inc and others have been slumping.
Leading equity indices in the US declined as Nasdaq lost 1% and ended the session at 11,900. After dropping 0.61%, S&P 500 closed at 4,111.
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.
TAL Education continues a 9 day downtrend; crashes 9% yesterday
After setting a $6.12 – $6.68 range, TAL Education Group closed the day 9% lower at $6.17. TAL Education traded at $6.17 after making its biggest single-day drop of 61 cents (9%) since Jan 17. After ending Friday at $6.78, TAL Education dropped to $6.12 early in yesterday's session and closed at $6.17. In total, it lost 9%. Daily trading volume (15.58 million shares) was higher than the current multiday average of 7.93 million.
| D/B/A Sibanye-Stillwater | continues a 15 day decline; slips 2.29% yesterday
After setting a $10.1 – $10.35 range, D/B/A Sibanye-Stillwater closed the day 2.29% lower at $10.23. After ending Friday at $10.47, D/B/A Sibanye-Stillwater declined to $10.1 yesterday before closing at $10.23, thereby losing 2.29% in total. Daily trading volume (3 million shares) was slightly greater than the current multiday average of 2.75 million.
Sirius XM continues a 17 day downtrend; falls 4.31% yesterday
After setting a $4.97 – $5.21 range, Sirius XM closed the day 4.31% lower at $5. Pronounced bearish sentiment in the market pushed the satellite and online radio company into a notable 4.31% slide yesterday, falling 21.5 cents and ultimately closing at $5. Sirius XM was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.09 per share on revenue of $2.28 billion, topping estimates of 0.08 per share on revenue of $2.27 billion. Sirius XM disclosed a quarterly dividend of 2.4 cents per share on Monday, October 31st that was paid on Wednesday, November 30th to all shareholders of record up until Friday, November 11th. Based on current prices, the company's decision thereby provides Sirius XM investors with an annual dividend yield of 1.92%.