MIDCAP-Indonesia Charoen Pokphan technicals suggest upside

Fri Sep 7, 2012 3:45am EDT

* For a technical chart: link.reuters.com/kyk52t

Shares of Indonesia's Charoen Pokphan, which rose as much as 3.7 percent on Friday, could go up further, technical charts suggest.

The stock price has risen above the Parabolic SAR (Stop and Reverse) points, which is a positive sign.

The shares, which had a sharp fall in the last month, face support at their 200-day exponential moving average.

The Price Volume Trend indicator shows bullish divergence as the indicator made higher lows though the stock price has made lower lows.

The stock has lost more than 6 percent in value over the past month, while the broader index is flat over the same period, based on Thursday's close. (Reporting By Patturaja Murugaboopathy; Editing by Gopakumar Warrier)

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