(Bloomberg) -- Asian stocks are showing “signs of cracking” after a regional benchmark index last week retreated below its major support line since March, CIMB-GK Research said. The MSCI Asia excluding Japan Index last week fell below 451 and may next find support at its 50-day simple moving average of 436, analysts Nigel Foo and Kong Seh Siang said. The daily Moving Average Convergence/Divergence, measuring directional trends, and its relative strength index, tracking how rapidly prices rise or fall, remain “negative,” they said.
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