NVIDIA Corporation(NVDA) is in an downtrend but momentum is showing some life

(28-Feb-2008) (28-Feb-2008) NVIDIA Corporation(NVDA) closed at 22.85, up 0.35 or 1.56 % for the day. Based on our analysis, NVIDIA Corporation(NVDA) is in an downtrend but momentum is showing some life.

The closing price of NVIDIA Corporation(NVDA) is below its 50 day moving average of 27.45 (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 NVIDIA Corporation(NVDA) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line today, let us see if it sustains.