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MIDCAP-China Minzhong Food technicals suggest downside

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Shares of Singapore-listed China Minzhong Food Corp , which rose sharply in September, could reverse, technical charts suggest.

Shares of the vegetable processing company face strong resistance at their 200-day exponential moving average.

Relative Momentum Index (RMI) at 79 suggests an overbought zone.

The Money Flow Index indicator shows a bearish divergence as the indicator has made a lower high, though the stock price made a higher high.

The stock is up 11.8 percent over the past month, while the sector index rose 1 percent in the same period, as of Monday's close.

(Reporting By Patturaja Murugaboopathy; Editing by Gopakumar Warrier)

((patturaja.murugaboopathy@thomsonreuters.com))

Keywords: MIDCAP CHINAMINZHONG/