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

The main stocks that are plunging: Catalent Inc, Foresight Autonomous Holdings Ltd., CommScope Holding Company, Inc.

Markets did not have a clear cut direction — S&P 500 closed at 4,155 after a flat day. Dow Jones closed 33,977 after a stable day.

This limbo state is reflected by market data published as United States Building Permits (Mar) came out at 1.41 million, while a consensus of analysts was expecting 1.45 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.

Catalent continues a 7 day downtrend; tumbles 7.37% yesterday

After setting a $41.51 – $45.38 range, Catalent Inc closed the day 7.37% lower at $42.08. After closing the previous day at $45.43, the drug manufacturer dropped to $41.51, hitting its lowest point in 3 months. It later recovered 57 cents and is now trading at $42.08. An influx of sellers pushed the pharmaceutical developer to session lows around $41.51 while establishing a $41.51 to $45.38 session range yesterday. Daily trading volume (9.92 million shares) was higher than the current multiday average of 3.48 million.

| Foresight Autonomous | 36.69% (16.5619 cents) depreciation over 20 days (0.8281 cents per day average)

After setting a 31 cents – 32.96 cents range, Foresight Autonomous closed the day 4.91% lower at 31.38 cents. An influx of sellers pushed the autonomous driving system developer to session lows around 31 cents while establishing a 31 cents to 32.96 cents session range yesterday. Yesterday's trading volume was 191,983 shares which is slightly under the 21-day average of 212,916.

| CommScope Holding Company, Inc. | 24.49% ($1.42) depreciation over 12 days (11.8333 cents per day average)

After setting a $4.68 – $4.97 range, CommScope Holding Company, Inc. closed the day 2.83% lower at $4.81. The US network infrastructure provider has recovered almost all of its session losses after dipping down to $4.68 yesterday. Daily trading volume (4.27 million shares) increased, making up 166% of the 21-day average (2.57 million).

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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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