E*TRADE Financial Corporation(ETFC) is in an downtrend but momentum is showing some life

(29-Apr-2008) (29-Apr-2008) E*TRADE Financial Corporation(ETFC) closed at 3.98, up 0.01 or 0.25 % for the day. Based on our analysis, E*TRADE Financial Corporation(ETFC) is in an downtrend but momentum is showing some life.

The closing price of E*TRADE Financial Corporation(ETFC) is below its 50 day moving average of 4.03 (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 E*TRADE Financial Corporation(ETFC) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 24-Apr-2008, about 5 trading days ago.