JAKARTA – The stock price of PT Japfa Comfeed Indonesia Tbk (JPFA) is showing potential for a rebound, driven by rising consumer purchasing power and demand leading into the month of Ramadan.

JPFA operates in the agro-food sector, focusing on agricultural food products and primary consumer goods. Historically, demand for these products increases ahead of Ramadan, which could boost JPFA’s performance.

In addition to these fundamental factors, technical analysis suggests that JPFA shares are still in a bullish trend, currently testing the support line of this trend. If the stock manages to hold at the support level and volume increases, JPFA shares could rebound and continue to strengthen.

Over the past six months, JPFA's stock price has risen by 24.92%, from IDR 1,585 per share on August 26, 2024 to IDR 1,980. However, during the first trading session on Wednesday (26/2), the stock dropped 2.03% to IDR 1,935.

Investors can explore further technical analysis through the video link below. (DK/KR/ZH)

Watch the analysis here