3 stocks to consider buying as bearish sentiment recedes

Ubiquiti Inc., Catalent Inc, Mullen Automotive, Inc. are currently leading the list of down-trending stocks.

Markets don't have a clear cut direction — Nasdaq trades at 12,300 after losing 0.21%. S&P 500 holds at 4,126.28.

This limbo state is reflected by market data published as highly important Producer Price Index data from United States beat analyst expectations of 0.3% with a reading of 0.2%.

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.

29 days of losses drag on for Ubiquiti

Ubiquiti Inc. drops 0.5% since opening around $178.83 while bearish sentiment is dominating the market, the US tech company is maintaining its poise around $177.37 while ranging between $177.15 and $181.27 so far today. Just recently, Ubiquiti's board disclosed a quarterly dividend of 60 cents per share to be paid on Monday, May 22nd for all shareholders of record up until Monday, May 15th. Based on current prices, the company's decision thereby provides Ubiquiti investors with an annual dividend yield of 1.35%.

| Catalent | 35.47% decline over 10 days

Catalent drops 5.41% since opening around $33.77 the pharmaceutical developer slides down from $34.19 to $32.34, losing $1.85 (5.41%). Catalent is scheduled to announce earnings results Monday. The consensus EPS estimate is 0.43 and the consensus revenue estimate is $1 billion.

Catalent is trading in a $32.34 – $33.85 range prior to its earnings announcement.

8 days of losses drag on for Mullen

Mullen drops 8.58% since opening around $1.36 the US automotive and EV manufacturer slides down from $1.4 to $1.28, losing 12.01 cents (8.58%).