eBay Inc.(EBAY) is in an downtrend but momentum is showing some life

(29-Feb-2008) (29-Feb-2008) eBay Inc.(EBAY) closed at 27.27, down -0.33 or -1.2 % today. Based on our analysis, eBay Inc.(EBAY) is in an downtrend but momentum is showing some life.

The closing price of eBay Inc.(EBAY) is below its 50 day moving average of 29.32 (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 eBay Inc.(EBAY) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 1-Feb-2008, about 20 trading days ago.