QUALCOMM Incorporated(QCOM) is in an downtrend but momentum is showing some life

(28-Mar-2008) (28-Mar-2008) QUALCOMM Incorporated(QCOM) closed at 39.72, down -0.77 or -1.9 % today. Based on our analysis, QUALCOMM Incorporated(QCOM) is in an downtrend but momentum is showing some life.

The closing price of QUALCOMM Incorporated(QCOM) is below its 50 day moving average of 40.71 (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 QUALCOMM Incorporated(QCOM) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 26-Mar-2008, about 3 trading days ago.