General Motors Corporation(GM) is in an downtrend but momentum is showing some life

(31-Mar-2008) (31-Mar-2008) General Motors Corporation(GM) closed at 18.67, down -0.59 or -3.06 % today. Based on our analysis, General Motors Corporation(GM) is in an downtrend but momentum is showing some life.

The closing price of General Motors Corporation(GM) is below its 50 day moving average of 23.68 (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 General Motors Corporation(GM) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 25-Mar-2008, about 5 trading days ago.