Broadcom Corporation(BRCM) is in an downtrend but momentum is showing some life

(29-Feb-2008) (29-Feb-2008) Broadcom Corporation(BRCM) closed at 19.5, down -0.86 or -4.22 % today. Based on our analysis, Broadcom Corporation(BRCM) is in an downtrend but momentum is showing some life.

The closing price of Broadcom Corporation(BRCM) is below its 50 day moving average of 22.98 (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 Broadcom Corporation(BRCM) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 26-Feb-2008, about 4 trading days ago.