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MIDCAP-Indonesia's Inovisi could reverse-technicals
* For a technical outlook: link.reuters.com/maq69s Shares of Inovisi Infracom, which are on an uptrend over the past month, could reverse, technical charts suggest.
The Trend Intensity (TI), a proprietary Thomson Reuters technical signal, is at 41 and declining. A reading above 40 is considered a trend mature zone.
A market is trending--bullishly or bearishly--when Trend Intensity is advancing. A trend is over when the signal declines.
The Commodity Channel Index (CCI) oscillator shows a bearish divergence as the stock has recorded higher highs and CCI has formed lower highs, which suggest less upside momentum.
The MACD is bearish as it is trading below the signal line.
The stock is up more than 18 percent over the past month, while the broader index is up more than 3 percent, as of Thursday's close. (Reporting By Patturaja Murugaboopathy; Editing by Sunil Nair)
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