3 stocks to consider buying as bearish sentiment recedes

Advance Auto Parts Inc, Canopy Growth Corporation, HEXO Corp. and others have been dropping. Here is what you should know.

Markets are mixed with Nasdaq drawing back 1.06% to 13,135. S&P 500 slipping 0.31% and closing at 4,270.54.

Current market events are being influenced by ambiguous macro data as highly important Crude Oil Inventories data from United States beat analyst expectations of 1 million with a reading of -451,000.

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.

| Advance Auto Parts | a $53.37 (-45.14%) fall over 11 days

Having fallen 0.83% from $66.07 in the current session, Advance Auto Parts Inc is now trading at $65.52. Slightly weaker but mostly flat: Advance Auto Parts is currently trading at $65.52 as it maintains an active range between $65.35 and $66.68. Looking back to Tuesday, February 21st, Advance Auto Parts disclosed to the market its decision to pay a dividend of $1.5 per share for all shareholders on record up until Friday, April 14th. With the payment made on Friday, April 28th, the decision means the firm's shareholders could obtain an annual dividend yield of 9.16% this year.

| Canopy Growth | withdraws to 72.45 cents while on an 11 day downtrend

Having fallen 2.02% from 73.94 cents in the current session, Canopy Growth is now trading at 72.45 cents. The Canadian cannabis supplier is sliding down from 73.94 cents to 72.45 cents, taking a 2.02% loss as it nears the end of the session.

| HEXO Corp. | 36.81% fall over 14 days

Having fallen 2.71% from 93.53 cents in the current session, HEXO Corp. is now trading at 91 cents. The high-quality cannabis producer is sliding down from 93.53 cents to 91 cents, taking a 2.71% loss as it nears the end of the session. HEXO Corp. is scheduled to announce earnings results Monday. The consensus Earnings Per Share estimate is -0.01 and the consensus revenue estimate is $18.79 million.

HEXO Corp. is scheduled to announce earnings results Monday. The consensus EPS estimate is -0.01 and the consensus revenue estimate is $18.79 million.