Opendoor Technologies Inc., Tuya Inc., SuperCom Ltd. are at the top of this list of down trending stocks.
Leading equity indices in the US declined as Nasdaq was down 0.66% before closing the session at 11,379. S&P 500 lost 0.47% and ended the session at 3,951.39.
On the flip side, highly important Crude Oil Inventories data from United States beat analyst expectations of 457,000 with a reading of 1.17 million.
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.
Opendoor Technologies Inc continues a 10 day downtrend; dips 6.94% yesterday
After setting a $1.29 – $1.43 range, Opendoor Technologies Inc. closed the day 6.94% lower at $1.34. After ending Tuesday at $1.44, Opendoor Technologies Inc declined to $1.29 yesterday before closing at $1.34, thereby losing 6.94% in total. Daily trading volume (30.27 million shares) was slightly above the current multiday average of 26.13 million.
| Tuya | 36.18% (86 cents) depreciation over 14 days (6.1429 cents per day average)
After setting a $1.75 – $2.23 range, Tuya closed the day 9.66% lower at $1.87. Early in yesterday's session, Tuya dropped to $1.75 from $2.07 at the end of Tuesday, before closing at $1.87. During the session, it lost 9.66%.
Daily trading volume (1.63 million shares) increased, making up 256% of the 21-day average (638,255).
| SuperCom | 34.57% (88 cents) depreciation over 17 days (5.1765 cents per day average)
After setting a $1.72 – $1.86 range, SuperCom closed the day 2.76% lower at $1.76. Pronounced bearish market sentiment ensured that the integrated solutions provider made a notable 2.76% loss yesterday, declining 5 cents and ultimately closing at $1.76. The day's trading volume totalled 34,759 shares — slightly under the 21-day average of 50,397.