Suntech Power Holdings Co. Ltd.(STP) is in an downtrend

(23-May-2008) (23-May-2008) Suntech Power Holdings Co. Ltd.(STP) closed at 41.05, down -1.49 or -3.5 % today. Based on our analysis, Suntech Power Holdings Co. Ltd.(STP) is in an downtrend.

The closing price of Suntech Power Holdings Co. Ltd.(STP) is below its 50 day moving average of 44.25 (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 Suntech Power Holdings Co. Ltd.(STP) 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 28-May-2008, about 5 trading days ago.