Sovereign Bancorp Inc.(SOV) has rising momentum with an uptrend

(23-May-2008) (23-May-2008) Sovereign Bancorp Inc.(SOV) closed at 9.25, up 0.11 or 1.2 % for the day. Based on our analysis, Sovereign Bancorp Inc.(SOV) has rising momentum with an uptrend.

The closing price of Sovereign Bancorp Inc.(SOV) is above its 50 day moving average of 8.64 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Sovereign Bancorp Inc.(SOV) is gaining momentum. An uptrend with with rising momentum is a good omen for the stock. The MACD histogram crossed above the signal line on 2-May-2008, about 22 trading days ago.