MIDCAP-Indonesia Bhakti Investama technicals suggest reversal

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Shares in Indonesia's PT Bhakti Investama Tbk , which saw a sharp rise in September, could reverse, technical charts suggest.

The Trend Intensity indicator for the broadcaster's stock stood at 41 on Thursday. A reading above 40 is considered a trend-mature zone.

The stochastics %k line has cut below the %d line, which is a negative sign.

Money Flow Index (MFI) is at 82 and a reading above 80 also suggests an overbought zone.

The stock is up more than 30 percent over the past month while the broader index has gained 3.24 percent in the same period, based on Wednesday's close.

(Reporting By Patturaja Murugaboopathy; Editing by Gopakumar Warrier)