Huntington Bancshares Inc.(HBAN) is in an downtrend but momentum is showing some life

(23-May-2008) (23-May-2008) Huntington Bancshares Inc.(HBAN) closed at 9.04, down -0.47 or -4.94 % today. Based on our analysis, Huntington Bancshares Inc.(HBAN) is in an downtrend but momentum is showing some life.

The closing price of Huntington Bancshares Inc.(HBAN) is below its 50 day moving average of 10.02 (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 Huntington Bancshares Inc.(HBAN) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 28-Apr-2008, about 23 trading days ago.