Rite Aid Corporation(RAD) is in an downtrend but momentum is showing some life

(29-Jan-2008) (29-Jan-2008) Rite Aid Corporation(RAD) closed at 2.6, up 0.14 or 5.69 % for the day. Based on our analysis, Rite Aid Corporation(RAD) is in an downtrend but momentum is showing some life.

The closing price of Rite Aid Corporation(RAD) is below its 50 day moving average of 3.06 (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 Rite Aid Corporation(RAD) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 18-Jan-2008, about 8 trading days ago.