Costco Wholesale Corporation(COST) is in an downtrend but momentum is showing some life

(27-Feb-2008) (27-Feb-2008) Costco Wholesale Corporation(COST) closed at 66.46, up 0.83 or 1.26 % for the day. Based on our analysis, Costco Wholesale Corporation(COST) is in an downtrend but momentum is showing some life.

The closing price of Costco Wholesale Corporation(COST) is below its 50 day moving average of 66.55 (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 Costco Wholesale Corporation(COST) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 21-Feb-2008, about 5 trading days ago.