Upstart Holdings, Inc., AMC Entertainment Holdings, Inc., Coinbase Global, Inc. are currently leading the list of down-trending stocks.
Markets were up yesterday; Dow Jones closed the day at 34,246, having gained 1.11%. S&P 500 ended the session at 4,137.29 after a 1.14% gain.
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.
| Upstart Holdings | 32.54% ($7.54) depreciation over 8 days (94.25 cents per day average)
After setting a $15.48 – $16.25 range, Upstart Holdings, Inc. closed the day 1.35% lower at $16.09. An influx of sellers pushed the cloud-based AI platform to end the session lower around $16.09, while establishing a $15.48 to $16.25 session range yesterday. Upstart Holdings is scheduled to announce earnings results today. The consensus EPS estimate is -0.98 and the consensus revenue estimate is $134.34 million.
The company trades at $16.09 ahead of quarterly performance report which is scheduled to be released today.
| AMC Entertainment | 31.18% ($1.9) depreciation over 6 days (31.6667 cents per day average)
After setting a $4.58 – $4.91 range, AMC Entertainment closed the day 4.49% lower at $4.68. An influx of sellers pushed the theatre company to session lows around $4.58 while establishing a $4.58 to $4.91 session range yesterday. Yesterday's trading volume was 25.74 million shares which is slightly below the 21-day average of 37.47 million.
Coinbase continues an 8 day downtrend; withdraws 1.21% yesterday
After setting a $53.66 – $57.09 range, Coinbase closed the day 1.21% lower at $56.4. The crypto exchange spearhead has recovered almost all of its session losses after dipping down to $53.66 yesterday. The day's trading volume totalled 14.37 million shares — slightly under the 21-day average of 20 million. Coinbase is trading in a $53.66 – $57.09 range prior to its earnings announcement.
Coinbase trades at $56.4 ahead of quarterly performance report which is scheduled to be released Tuesday.