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March 03, 2023
Tuya Inc., Cyren Ltd., CureVac N.V. are currently leading the list of down-trending stocks.
Leading equity indices in the US rose as Dow Jones closed the day at 33,000, having gained 1.05%. S&P 500 ended the session at 3,981.35 after a 0.76% gain.
Uptick coincides with some positive signs published earlier as United States Initial Jobless Claims improved upon its previous reading of 192,000 with a new data release of 190,000.
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.
| Tuya | 46.76% ($1.06) depreciation over 15 days (7.0667 cents per day average)
More of the same from yesterday's session: early in yesterday's session, Tuya Inc. dropped to $1.23 from $1.87 at the end of Wednesday, before closing at $1.56. During the session, it lost 16.58%. After setting a $1.23 – $1.81 range, Tuya closed the day 16.58% lower at $1.56. Yesterday's session ended at $1.87; today, the AI and IoT platform dropped to its lowest point in 2 months at $1.23. It later recovered 33 cents and is now trading at $1.56. Daily trading volume (2 million shares) was higher than the current multiday average of 705,717.
Currently, the AI and IoT platform has a market capitalization of $996.33 million with an average daily trading volume of 705,717 shares. Tuya has shed $3.58 points and is languishing 65.69% lower over the past year, leaving its yearly highs around $5.14 in the rear-view mirror. So far this year, it has been under-performing the Nasdaq by 28.86%.
Cyren continues a 5 day downtrend; crashes 20.65% yesterday
After setting a 21.15 cents – 25.99 cents range, Cyren closed the day 20.65% lower at 21.82 cents. An influx of sellers pushed the state-of-the-art email security software developer to end the session lower around 21.82 cents, while establishing a 21.15 cents to 25.99 cents session range yesterday. Trading volume totalled 1 million which equates to around 38% of the stock's 21-day average yesterday.
| CureVac | 33.5% ($3.66) depreciation over 21 days (17.4286 cents per day average)
After setting a $7.8 – $8.12 range, CureVac closed the day 3.57% lower at $7.84. CureVac closed at $7.84 after dropping by 3.57% (29 cents), its largest single-day drop since Feb 9. After ending Wednesday at $8.13, CureVac declined to $7.8 yesterday before closing at $7.84, thereby losing 3.57% in total. The day's trading volume totalled 488,476 shares — lower than the 21-day average of 1.29 million.
