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June 15, 2023
DISH Network Corp, Riot Blockchain, Inc., BeiGene, Ltd. and others have been slumping.
Leading equity indices in the US rose as Dow Jones ended the session at 34,400 after a 1.26% gain. S&P 500 gained 1.22% and closed at 4,426.
Uptick coincides with some positive signs published earlier as highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 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.
| Dish Network | 19.79% ($1.47) depreciation over 6 days (24.5 cents per day average)
After setting a $6.11 – $6.37 range, DISH Network Corp closed the day 1.11% lower at $6.24. Grinding lower but with no clear-cut direction, the direct-broadcast satellite provider closed the session at $6.24 after forming a distinct $6.11 – $6.37 range. The volume of trade was 14.95 million shares, close to the daily average of 14.89 million shares.
| Riot Blockchain, Inc. | 19.66% ($2.26) depreciation over 10 days (22.6 cents per day average)
After setting a $9.42 – $10.13 range, Riot Blockchain, Inc. closed the day 1.77% lower at $9.97. Early in today's session, Riot Blockchain, Inc. dropped to $9.42 from $10.15 at the end of yesterday, before closing at $9.97. During the session, it lost 1.77%. The day's trading volume totalled 15.18 million shares — slightly below the 21-day average of 18.72 million.
| BeiGene | 15.14% ($28.78) depreciation over 13 days ($2.21 per day average)
After setting a $191.15 – $208.5 range, BeiGene closed the day 3.4% lower at $201.04. After closing the previous day at $208.12, the global oncology developer dropped to $191.15, hitting its lowest point in 5 months. It later recovered $9.89 and is now trading at $201.04. After ending yesterday at $208.12, BeiGene declined to $191.15 today before closing at $201.04, thereby losing 3.4% in total. Daily trading volume (474,567 shares) was above the current multiday average of 182,635.
