Millennium Pharmaceuticals Inc.(MLNM) is in an uptrend but could lose its momentum

(28-Apr-2008) (28-Apr-2008) Millennium Pharmaceuticals Inc.(MLNM) closed at 24.57, up 0.07 or 0.29 % for the day. Based on our analysis, Millennium Pharmaceuticals Inc.(MLNM) is in an uptrend but could lose its momentum.

The closing price of Millennium Pharmaceuticals Inc.(MLNM) is above its 50 day moving average of 17.04 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Millennium Pharmaceuticals Inc.(MLNM) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line today, let us see if it stays below.