Arrival, Bright Mountain Media, Inc., OrganiGram Holdings Inc. have been the noticable stocks on a downtrend. Here is what you need to know.
Markets did not have a clear cut direction — Nasdaq closed 12,072 after a stable day. Dow Jones closed at 33,800 after a flat day.
Current market events are being influenced by ambiguous macro data as United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5.
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.
Arrival continues a 5 day downtrend; tumbles 20.33% yesterday
After setting a $2.37 – $3.03 range, Arrival closed the day 20.33% lower at $2.39. After ending Thursday at $three, Arrival declined to $2.37 yesterday before closing at $2.39, thereby losing 20.33% in total. Trading volume totalled 1.44 million which equates to around 11% of the stock's 21-day average yesterday.
| Bright Mountain Media | continues a 6 day decline; drops 12.5% yesterday
After setting a 7 cents – 10 cents range, Bright Mountain Media closed the day 12.5% lower at 7 cents. During yesterday's session, Bright Mountain Media toiled and struggled for upward momentum before closing at 7 cents. By the close, the the digital media company suffered a 1 cents or 12.5% loss. The day's trading volume totalled 8,500 shares — slightly under the 21-day average of 10,048.
| OrganiGram Holdings | 27.38% (17.22 cents) depreciation over 10 days (1.722 cents per day average)
After setting a 49.45 cents – 52.75 cents range, OrganiGram Holdings closed the day 3.16% lower at 50 cents. An influx of sellers pushed the medical cannabis provider to end the session lower around 50 cents, while establishing a 49.45 cents to 52.75 cents session range yesterday. Trading volume totalled 855,178 which equates to around 92% of the stock's 21-day average yesterday.