The 3 down-trending stocks in a bullish market

Signature Bank, Enphase Energy Inc, Allegro MicroSystems, Inc. and others have been dropping. Here is what you should know.

The leading indices are showing gains — Dow Jones up to 33,970, gaining 0.43%. S&P 500 goes up 0.33%, trading at 4,149.17.

At the same time, United States Core PCE Price Index (MoM) (Mar) came out at 0.3, while a consensus of analysts was expecting 0.3.

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 | 40.35% decline over 7 days

Signature Bank drops 8.37% since opening around 12.55 cents the full-service commercial bank slides down from 12.55 cents to 11.5 cents, losing 1.05 cents (8.37%). The firm disclosed a quarterly dividend of 70 cents per share on Thursday, January 12th and was paid on Friday, February 10th — thereby generating a yield of 2,434.78% for all eligble shareholders.

8 days of losses drag on for Enphase

Enphase Energy drops 3% since opening around $163.32 the clean energy tech developer dropped to its lowest point in 11 months at $156.31. It later recovered $2.95 and trades at $159.26. The energy technology company slides down from $164.18 to $159.26, losing $4.92 (3%).

| Allegro | 26.8% fall over 19 days

Allegro drops 1.21% since opening around $35.12 Allegro is down to $35.13, after ending yesterday at $35.56. Overall, a 1.21% loss or 43 cents today.