Goldcorp Inc.(GG) is in an downtrend

(29-Apr-2008) (29-Apr-2008) Goldcorp Inc.(GG) closed at 34.47, down -1.63 or -4.52 % today. Based on our analysis, Goldcorp Inc.(GG) is in an downtrend.

The closing price of Goldcorp Inc.(GG) is below its 50 day moving average of 40.73 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Goldcorp Inc.(GG) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 23-Apr-2008, about 6 trading days ago.