Suntech Power Holdings Co., LTD.(STP) is in an downtrend but momentum is showing some life

(28-Mar-2008) (28-Mar-2008) Suntech Power Holdings Co., LTD.(STP) closed at 38.07, up 1.25 or 3.39 % for the day. Based on our analysis, Suntech Power Holdings Co., LTD.(STP) is in an downtrend but momentum is showing some life.

The closing price of Suntech Power Holdings Co., LTD.(STP) is below its 50 day moving average of 43.36 (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 Suntech Power Holdings Co., LTD.(STP) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 12-Mar-2008, about 12 trading days ago.