May 30, 2012 / 7:42 AM / 5 years ago

MIDCAP-Philippine DMCI could fall further-technicals

* For a technical outlook: r.reuters.com/fyc58s

Shares of industrial conglomerate DMCI Holdings, which have lost nearly 6 percent in value over the past month, look set for a further downside, technical charts suggest.

The stock price has slipped below its 50-day Simple Moving Average on Wednesday, a negative sign.

Its Moving Average Convergence Divergence (MACD) is below the signal line and entered the negative zone.

The RSI is at its 14-day low, which is also bearish.

The stock had lost 3.9 percent in the past week, and underperformed the broader index that gained 2.3 percent over the same period. (Reporting By Patturaja Murugaboopathy; Editing by Gopakumar Warrier)

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