Symantec Corporation(SYMC) is in an downtrend but momentum is showing some life

(31-Mar-2008) (31-Mar-2008) Symantec Corporation(SYMC) closed at 16.82, down -0.2 or -1.18 % today. Based on our analysis, Symantec Corporation(SYMC) is in an downtrend but momentum is showing some life.

The closing price of Symantec Corporation(SYMC) is below its 50 day moving average of 17.11 (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 Symantec Corporation(SYMC) 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.