Foresight Autonomous Holdings Ltd., Catalent Inc, Canopy Growth Corporation have been the noticable stocks on a downtrend. Here is what you need to know.
Leading equity indices in the US declined as Dow Jones lost 0.42% and ended the session at 33,900. Nasdaq slipped 0.35% and closed at 12,123.
This down-slide takes place while United States macroeconomics indicators data published earlier are pointing downward as well — highly important Core Retail Sales data from United States beat analyst expectations of -0.3% with a reading of -0.8%.
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.
| Foresight Autonomous | 33.82% (15.1619 cents) depreciation over 18 days (0.8423 cents per day average)
After setting a 30.2 cents – 34.76 cents range, Foresight Autonomous Holdings Ltd. closed the day 4.65% lower at 32.8 cents. After ending Thursday at 34.4 cents, Foresight Autonomous declined to 30.2 cents yesterday before closing at 32.8 cents, thereby losing 4.65% in total. Daily trading volume (587,844 shares) increased, making up 300% of the 21-day average (194,734).
| Catalent | 31.13% ($3.95) depreciation over 5 days (79 cents per day average)
After setting a $45.09 – $50.7 range, Catalent closed the day 26.84% lower at $46.32. Early in yesterday's session, Catalent dropped to $45.09 from $63.31 at the end of Thursday, before closing at $46.32. During the session, it lost 26.84%.
Daily trading volume (21.45 million shares) was higher than the current multiday average of 2.55 million.
| Canopy Growth | 27.41% (46 cents) depreciation over 18 days (2.5556 cents per day average)
Yesterday's session continued down the same path: after ending Thursday at $1.51, Canopy Growth dropped to $1.43 early in yesterday's session and closed at $1.43. In total, it lost 5.3%. After setting a $1.43 – $1.52 range, Canopy Growth closed the day 5.3% lower at $1.43. Daily trading volume (6.37 million shares) was slightly above the current multiday average of 5.57 million.
Canopy Growth has a market cap of $733 million with an average daily volume of 5.57 million shares. The Canadian cannabis supplier is up 5.59% from the significant low of $1.43 it hit a day ago. So far this year, it has been under-performing the Nasdaq by 51.09%. On a negative trend for around 2 months. Canopy Growth last reported revenue of $113,349 with an EPS of -35 cents.