JAKARTA – The stock price of PT Surya Citra Media Tbk (SCMA) has the potential to continue rising as accumulation by its parent company, PT Elang Mahkota Teknologi Tbk (EMTK), persists.

SCMA is a company engaged in multimedia services, with its core business in television broadcasting through SCTV, Indosiar, and SCP stations.

According to an analysis by PT Ina Sekuritas Indonesia, SCMA’s stock price movement showed positive signals on Tuesday (4/3).

SCMA’s stock is currently testing the Moving Average 5 (MA5) line, which indicates the potential for a continued upward trend. The stochastic indicator is also strengthening, giving a positive signal to investors.

If SCMA’s stock price successfully breaks IDR 202 per share, the next target will be to reach the resistance levels of IDR 210 and IDR 230 per share.

However, if the stock price undergoes a correction or pullback, the cut-loss limit is set at IDR 196 per share.

Further technical analysis on SCMA’s stock can be viewed in the following video. (DK/KR/ZH)