JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia indicates the potential for positive movement in the shares of PT Surya Citra Media Tbk (SCMA) on Tuesday (18/3).

Technically, SCMA shares are stuck at MA60, while in the previous trade, the candle showed a bounce that successfully broke through MA5. The strengthening stochastic indicator also signals the potential for further gains, with target resistance in the range of Rp200-Rp204 per share.

This strengthening is also supported by SCMA's financial report, which recorded a 77.8% increase in profit and 8.63% increase in revenue in 2024.

However, if the price movement does not meet expectations, the cut loss limit is recommended in the price range of IDR190 to IDR186 per share.

SCMA is a stock issuer engaged in the multimedia, entertainment and communications sector, and houses several well-known television stations in Indonesia, such as SCTV and Indosiar. In the first trading session today, SCMA's share price fell 6.57% to Rp185 per share as of 11:41 a.m. WIB.

Investors can view the technical analysis video through the following video. (DK/KR/LM)