The 3 down-trending stocks in a bullish market

Cloudflare, Inc., GoodRx Holdings, Inc., Coinbase Global, Inc. are at the top of this list of down trending stocks.

The leading indices are pointing up — Nasdaq up 0.3%, trading at 12,117. S&P 500 up to 4,126, gaining 0.16%.

Meanwhile, United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.

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.

| Cloudflare | 34.65% fall over 14 days

More of the same today: while bearish sentiment is dominating the market, the DDoS mitigation company is maintaining its poise around $42.4 while ranging between $41.78 and $43.27 so far today. Cloudflare drops 1.12% since opening around $42.5

The company has a market cap of $14 billion with an average daily trading volume of 5.83 million shares. The US content delivery network has shed 32.25% over the past three months. So far this year, it has been under-performing the Nasdaq by 14.35%.

GoodRx continues a 14 day downtrend; slips 1.91% this session

Similar trend today: the US healthcare company slides down from $4.45 to $4.37, losing 8.5 cents (1.91%). GoodRx drops 1.91% since opening around $4.45

The company is currently trading with a market cap of $1.74 billion with an average daily volume of 1.30 million shares. Having set a significant high of $14.4 11 months ago, the US healthcare company is trading 69.1% lower. So far this year, it has been under-performing the Nasdaq by 19.54%. Trending downwards for around a month.

GoodRx is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 0.06 and the consensus revenue estimate is $182 million.

| Coinbase | a 30% fall over a 16 day period

Coinbase drops 4.29% since opening around $50.15 the crypto exchange spearhead slides down from $51.32 to $49.12, losing $2.2 (4.29%).