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February 22, 2023
Farfetch Limited, Mullen Automotive, Inc., Sibanye Stillwater Limited are at the top of this list of down trending stocks.
Leading equity indices in the US declined as after dropping 2.06%, Dow Jones closed at 33,130. S&P 500 was down 2% before closing the session at 3,997.34.
Amid the market gloom, United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 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.
| Farfetch Limited | continues a 13 day decline; withdraws 4.65% yesterday
After setting a $4.87 – $5.11 range, Farfetch Limited closed the day 4.65% lower at $4.92. After ending Friday at $5.16, Farfetch Limited declined to $4.87 yesterday before closing at $4.92, thereby losing 4.65% in total. Daily trading volume (14.49 million shares) increased, making up 103% of the 21-day average (14 million). Farfetch Limited is scheduled to announce earnings results tomorrow. The consensus EPS estimate is -0.42 and the consensus revenue estimate is $625.36 million.
Farfetch Limited is trading in a $4.87 – $5.11 range prior to its earnings announcement.
| Mullen | 32.6% (10.89 cents) depreciation over 6 days (1.815 cents per day average)
After setting a 24.5 cents – 26.9 cents range, Mullen Automotive closed the day 5.32% lower at 25.47 cents. Early in yesterday's session, Mullen dropped to 24.5 cents from 26.9 cents at the end of Friday, before closing at 25.47 cents. During the session, it lost 5.32%. Yesterday's trading volume was 176.42 million shares which is slightly under the 21-day average of 181.42 million.
| D/B/A Sibanye-Stillwater | 29.24% ($3) depreciation over 25 days (11.96 cents per day average)
After setting a $8.52 – $8.75 range, D/B/A Sibanye-Stillwater closed the day 6.55% lower at $8.71. After ending Friday at $9.32, D/B/A Sibanye-Stillwater dropped to $8.52 early in yesterday's session and closed at $8.71. In total, it lost 6.55%. Daily trading volume (7.87 million shares) was higher than the current multiday average of 3 million.
