Foster Wheeler Ltd.(FWLT) is in an downtrend but momentum is showing some life

(27-Feb-2008) (27-Feb-2008) Foster Wheeler Ltd.(FWLT) closed at 67.26, down -11.9 or -15.03 % today. Based on our analysis, Foster Wheeler Ltd.(FWLT) is in an downtrend but momentum is showing some life.

The closing price of Foster Wheeler Ltd.(FWLT) is below its 50 day moving average of 72.4 (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 Foster Wheeler Ltd.(FWLT) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 29-Jan-2008, about 21 trading days ago.