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

Signature Bank, ZIM Integrated Shipping Services Ltd., Otonomo Technologies Ltd. and others have been slumping.

Markets completed a mixed session yesterday, as Nasdaq slipped 1.07% and closed at 12,000. S&P 500 closed at 4,090.38, a 0.25% change.

This limbo state is reflected by market data published as United States Crude Oil Inventories improved upon its previous reading of -7.49 million with a new data release of -3.74 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.

| Signature Bank | 33.87% (7.2 cents) depreciation over 6 days (1.2 cents per day average)

After setting a 15.15 cents – 17.6 cents range, Signature Bank closed the day 5.54% lower at 15.87 cents. Slightly down but mostly flat: Signature Bank ranged between 15.15 cents and 17.6 cents before closing at 15.87 cents. Yesterday's trading volume was 4.79 million shares which is below the 21-day average of 14.91 million. Signature Bank disclosed a quarterly dividend of 70 cents per share on Thursday, January 12th that was paid on Friday, February 10th to all shareholders of record up until Friday, January 27th. Based on current prices, the company's decision thereby provides Signature Bank investors with an annual dividend yield of 1,764.34%.

| ZIM Integrated Shipping Services Ltd. | continues a 5 day decline; falls 9.83% yesterday

After setting a $17.38 – $19.09 range, ZIM Integrated Shipping Services Ltd. closed the day 9.83% lower at $17.62. Early in yesterday's session, ZIM Integrated Shipping Services Ltd. dropped to $17.38 from $19.54 at the end of Tuesday, before closing at $17.62. During the session, it lost 9.83%. Daily trading volume (10.22 million shares) was above the current multiday average of 6.24 million.

| Otonomo | 25.27% (7.65 cents) depreciation over 7 days (1.0929 cents per day average)

After setting a 40 cents – 44.43 cents range, Otonomo closed the day 13.07% lower at 40.76 cents. After ending Tuesday at 46.89 cents, Otonomo dropped to 40 cents early in yesterday's session and closed at 40.76 cents. In total, it lost 13.07%. Daily trading volume (422,097 shares) increased, making up 176% of the 21-day average (240,444).

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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