Starbucks Corporation(SBUX) is in an downtrend but momentum is showing some life

(31-Mar-2008) (31-Mar-2008) Starbucks Corporation(SBUX) closed at 17.05, down -0.57 or -3.23 % today. Based on our analysis, Starbucks Corporation(SBUX) is in an downtrend but momentum is showing some life.

The closing price of Starbucks Corporation(SBUX) is below its 50 day moving average of 18.36 (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 Starbucks Corporation(SBUX) 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.