JAKARTA – Technical analysis from PT Ina Sekuritas Indonesia projects the price movement direction of PT AKR Corporindo Tbk (AKRA) shares on Wednesday (12/3).

Currently, AKRA shares are moving above the 5-day Moving Average (MA5) after forming a double bottom pattern, which often signals a potential reversal towards an upward trend.

Moreover, the accumulation of shares by AKRA's commissioners and foreign investors, including BlackRock, further strengthens the positive momentum, with the potential to break through the nearest resistance at levels between IDR 1,350 and IDR 1,400 per share.

However, if AKRA shares weaken below MA5, a cut loss level is set at IDR 1,250 per share.

For reference, AKRA operates in the trade, distribution, and logistics sectors, and is also involved in property and infrastructure development.

Investors can view the complete technical analysis in the following video. (DK/KR/ZH)