Grey Wolf Inc.(GW) is in an downtrend

(29-Apr-2008) (29-Apr-2008) Grey Wolf Inc.(GW) closed at 6.27, down -0.36 or -5.43 % today. Based on our analysis, Grey Wolf Inc.(GW) is in an downtrend.

The closing price of Grey Wolf Inc.(GW) is below its 50 day moving average of 6.63 (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 Grey Wolf Inc.(GW) 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 22-Apr-2008, about 7 trading days ago.