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July 03, 2023
Sea Limited American, New Fortress Energy Inc., StoneCo Ltd. have been the noticable stocks on a downtrend. Here is what you need to know.
Markets were up today; Nasdaq gained 0.21% and closed at 13,817. S&P 500 ended the session at 4,455.59 after a 0.12% gain.
More data out today as United States ISM Manufacturing PMI (Jun) came out at 46, while a consensus of analysts was expecting 47.2.
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.
| Sea Ltd | 12.48% ($7.66) depreciation over 13 days (58.9231 cents per day average)
After setting a $57.33 – $59.5 range, Sea Limited American closed the day 0.93% lower at $57.5. Despite the risk-off mood, Sea Ltd was range-bound between $57.33 to $59.5 and settled at $57.5. Today's trading volume was 3 million shares which is slightly under the 21-day average of 4.46 million.
| Sea Ltd | 12.48% ($7.66) depreciation over 13 days (58.9231 cents per day average)
After setting a $57.33 – $59.5 range, Sea Limited American closed the day 0.93% lower at $57.5. Despite the risk-off mood, Sea Ltd was range-bound between $57.33 to $59.5 and settled at $57.5. Today's trading volume was 3 million shares which is slightly under the 21-day average of 4.46 million.
| Sea Ltd | 12.48% ($7.66) depreciation over 13 days (58.9231 cents per day average)
After setting a $57.33 – $59.5 range, Sea Limited American closed the day 0.93% lower at $57.5. Despite the risk-off mood, Sea Ltd was range-bound between $57.33 to $59.5 and settled at $57.5. Today's trading volume was 3 million shares which is slightly under the 21-day average of 4.46 million.
