* For a technical chart: link.reuters.com/wax62t
Shares of Indo Tambangraya Megah, which are up more than 5 percent over the past month, could rise further, technical charts suggest.
The stock has cut above the 200-day exponential moving average, a positive sign.
Trend Intensity, a proprietary Thomson Reuters technical indicator, suggests a new uptrend for Indo Tambangraya shares. The indicator made higher lows and advanced to 20 on Monday.
A low level of Trend Intensity in the 10s indicates a sideways market until a series of higher lows form and signal the potential formation of a new trend.
The MACD is bullish as it is trading above the signal line.
The stock was up 3.37 percent over the past week, while the sector index was up 9 percent, based on Friday’s close. (Reporting By Patturaja Murugaboopathy; Editing by Sunil Nair)