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

Marathon Digital Holdings, Inc., Riot Blockchain, Inc., Baidu Inc are at the top of this list of down trending stocks.

Markets completed a mixed session today, as Nasdaq was down 0.29% before closing the session at 12,037. Dow Jones gained 0.2% and closed at 33,875.

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.

Marathon Digital Holdings, Inc. continues a 6 day downtrend; slides down 0.45% today

After setting a $8.69 – $9.35 range, Marathon Digital Holdings, Inc. closed the day 0.45% lower at $8.89. Slightly down but mostly flat: Marathon Digital Holdings, Inc. ranged between $8.69 and $9.35 before closing at $8.89. Trading volume totalled 26.15 million which equates to around 76% of the stock's 21-day average today.

Riot Blockchain, Inc. continues a 7 day downtrend; withdraws 1.24% today

Today's session continued down the same path: the Bitcoin miner has recovered almost all of its session losses after dipping down to $10.12 today. After setting a $10.12 – $10.8 range, Riot Blockchain, Inc. closed the day 1.24% lower at $10.39. Today's trading volume was 18 million shares which is slightly below the 21-day average of 25.39 million.

Currently, the US large-scale Bitcoin miner has a market capitalization of $1.73 billion with an average daily trading volume of 25.39 million shares. The Bitcoin miner is now trading 22.07% below the significant high of $13.5 it set around 11 days ago. The stock has been trending positively for about 3 months. $60.15 million was Riot Blockchain, Inc.'s last reported revenue with -7 cents being the current EPS.

| Baidu | 23.34% ($35) depreciation over 18 days ($1.94 per day average)

After setting a $122.09 – $123.68 range, Baidu closed the day 1.87% lower at $122.62. Early in today's session, Baidu dropped to $122.09 from $124.96 at the end of Friday, before closing at $122.62. During the session, it lost 1.87%. Today's trading volume was 1.94 million shares which is slightly under the 21-day average of 2.83 million.