Tesoro Corporation(TSO) is in an downtrend but momentum is showing some life

(29-Apr-2008) (29-Apr-2008) Tesoro Corporation(TSO) closed at 26.15, up 0.72 or 2.83 % for the day. Based on our analysis, Tesoro Corporation(TSO) is in an downtrend but momentum is showing some life.

The closing price of Tesoro Corporation(TSO) is below its 50 day moving average of 31.62 (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 Tesoro Corporation(TSO) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 17-Apr-2008, about 10 trading days ago.