Range-bound market sets stage for these 3 stocks to continue their downtrends

Arrival, Bright Mountain Media, Inc., OrganiGram Holdings Inc. are at the top of this list of down trending stocks.

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 decline; plunges 20.33% yesterday

After setting a $2.37 – $3.03 range, Arrival closed the day 20.33% lower at $2.39. Early in yesterday's session, Arrival dropped to $2.37 from $three at the end of Thursday, before closing at $2.39. During the session, it lost 20.33%. 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 downtrend; falls 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 below 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. The day's trading volume totalled 855,178 shares — slightly under the 21-day average of 925,677.