Nortel Networks Corporation(NT) is in an downtrend but momentum is showing some life

(28-Feb-2008) (28-Feb-2008) Nortel Networks Corporation(NT) closed at 9.93, down -1.52 or -13.28 % today. Based on our analysis, Nortel Networks Corporation(NT) is in an downtrend but momentum is showing some life.

The closing price of Nortel Networks Corporation(NT) is below its 50 day moving average of 13 (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 Nortel Networks Corporation(NT) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 15-Feb-2008, about 9 trading days ago.