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May 02, 2023
Signature Bank, Cloudflare, Inc., Enphase Energy Inc are at the top of this list of down trending stocks.
The leading indices are dropping — Dow Jones slipping 1.2% and closing at 33,643. S&P 500 drawing back 1.19% to 4,118.47.
While price action maintains a negative bias, United States JOLTs Job Openings (Mar) released today at 14:00 UTC with a figure of 9.59 million, while the previous figure was 9.97 million.
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 | 64.26% decline over 9 days
Signature Bank drops 12.12% since opening around 7.28 cents after closing the previous day at 7.84 cents, the full-service commercial bank dropped to 5.48 cents, hitting its lowest point in 5 weeks. It later recovered 1.41 cents and is now trading at 6.89 cents. The full-service commercial bank drops 12.12% in early trade and remains within touching distance of the 6.89 cents level. 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 4,064% for all eligble shareholders.
| Cloudflare | a 32.89% fall over a 13 day period
Cloudflare drops 2.64% since opening around $44.59 while bearish sentiment is dominating the market, the US content delivery network is maintaining its poise around $43.54 while ranging between $43.17 and $44.65 so far today.
10 days of losses drag on for Enphase Energy
Enphase drops 4.53% since opening around $158.73 after ending yesterday at $153.31, the clean energy tech developer dropped $7.28 to $152.64 today — reaching its lowest point in 11 months. The clean energy tech developer slides down from $160.59 to $153.31, losing $7.28 (4.53%).
