El Paso Corporation(EP) is in an downtrend

(28-Mar-2008) (28-Mar-2008) El Paso Corporation(EP) closed at 16.14, up 0.54 or 3.46 % for the day. Based on our analysis, El Paso Corporation(EP) is in an downtrend.

The closing price of El Paso Corporation(EP) is below its 50 day moving average of 16.37 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that El Paso Corporation(EP) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 17-Mar-2008, about 9 trading days ago.