MIDCAP-Singapore's Capitamalls technicals suggest downside

Wed Nov 14, 2012 12:57am EST

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* For a technical chart: link.reuters.com/hah93t

Shares of Capitamalls Asia, which are down more than 2 percent on Wednesday, could fall further, technical charts suggest.

The stock has cut below its 20-day exponential moving average, which is a negative sign.

MACD has cut below the signal line, which is bearish.

Trend Intensity, a proprietary Thomson Reuters technical indicator, has started to decline, which suggests the end of its uptrend over the past month.

The RSI has fallen below 70 from a topping formation, and is bearish.

The stock is up 11 percent over the past month, while the broader index is down 1.12 percent, based on Monday's close.

(Reporting By Patturaja Murugaboopathy; Editing by Jijo Jacob)

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