The Home Depot, Inc(HD) is in an downtrend

(23-May-2008) (23-May-2008) The Home Depot, Inc(HD) closed at 27.18, up 0.09 or 0.33 % for the day. Based on our analysis, The Home Depot, Inc(HD) is in an downtrend.

The closing price of The Home Depot, Inc(HD) is below its 50 day moving average of 28.36 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that The Home Depot, Inc(HD) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 7-May-2008, about 21 trading days ago.