JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia shows that the movement of  PT Sumber Alfaria Trijaya Tbk (AMRT) shares is currently in a bearish trend and is testing MA20 as its resistance level, Friday (14/3).

However, there is potential for AMRT stock to strengthen, driven by accumulation from foreign investors such as BlackRock and Vanguard, alongside an expected increase in consumer spending during the Ramadan period.

AMRT is the owner of the Alfamart minimarket chain, one of the largest retail companies in Indonesia.

At present, AMRT shares are at the lower-line area, marking the lowest point reached during one day of trading. On the other hand, if the stock price breaks through the IDR 2,450 per share level, there is potential for it to strengthen up to IDR 2,700 per share.

However, if the price moves beyond expectations, a cut loss is recommended at around IDR 2,320 to IDR 2,170 per share.

For further technical analysis, please watch the following video. (DK/ZH/LM)