China Precision Steel, Inc.(CPSL) is in an uptrend but could lose its momentum

(23-May-2008) (23-May-2008) China Precision Steel, Inc.(CPSL) closed at 5.4, down -0.2 or -3.57 % today. Based on our analysis, China Precision Steel, Inc.(CPSL) is in an uptrend but could lose its momentum.

The closing price of China Precision Steel, Inc.(CPSL) is above its 50 day moving average of 4.37 (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 China Precision Steel, Inc.(CPSL) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line on 30-May-2008, about 3 trading days ago.