Home Depot, Inc. (The)(HD) is in an downtrend but momentum is showing some life

(31-Mar-2008) (31-Mar-2008) Home Depot, Inc. (The)(HD) closed at 27.38, down -0.41 or -1.48 % today. Based on our analysis, Home Depot, Inc. (The)(HD) is in an downtrend but momentum is showing some life.

The closing price of Home Depot, Inc. (The)(HD) is below its 50 day moving average of 27.77 (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 Home Depot, Inc. (The)(HD) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 18-Mar-2008, about 9 trading days ago.