Schering-Plough Corp.(SGP) is in an downtrend but momentum is showing some life

(25-Apr-2008) (25-Apr-2008) Schering-Plough Corp.(SGP) closed at 18.64, up 0.52 or 2.87 % for the day. Based on our analysis, Schering-Plough Corp.(SGP) is in an downtrend but momentum is showing some life.

The closing price of Schering-Plough Corp.(SGP) is below its 50 day moving average of 18.93 (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 Schering-Plough Corp.(SGP) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 10-Apr-2008, about 13 trading days ago.