Gap Inc.(GPS) is in an downtrend but momentum is showing some life

(28-Apr-2008) (28-Apr-2008) Gap Inc.(GPS) closed at 18.89, down -0.45 or -2.33 % today. Based on our analysis, Gap Inc.(GPS) is in an downtrend but momentum is showing some life.

The closing price of Gap Inc.(GPS) is below its 50 day moving average of 19.61 (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 Gap Inc.(GPS) 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-Apr-2008, about 3 trading days ago.