Nymex Holdings, Inc.(NMX) is in an downtrend but momentum is showing some life

(28-Jan-2008) (28-Jan-2008) Nymex Holdings, Inc.(NMX) closed at 116.5, up 9.34 or 8.72 % for the day. Based on our analysis, Nymex Holdings, Inc.(NMX) is in an downtrend but momentum is showing some life.

The closing price of Nymex Holdings, Inc.(NMX) is below its 50 day moving average of 121.28 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Nymex Holdings, Inc.(NMX) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line today, let us see if it sustains.