JAKARTA – Technical analysis by PT Ina Sekuritas Indonesia indicates that the stock price of PT Jasa Marga (Persero) Tbk (JSMR) remained in a bearish trend as of Tuesday (25/3). However, analysts suggest there is potential for limited strengthening in the near future.

It is noted that JSMR's candlestick movement has surpassed the 5-day and 20-day moving averages (MA5 and MA20), while the stochastic indicator signals an exit from the oversold area.

With this condition, JSMR shares are expected to strengthen towards their nearest resistance level in the price range of IDR 3,930–IDR 4,130 per share.

However, if the price does not move as expected, investors are advised to cut losses at the IDR 3,780 to IDR 3,650 level per share to mitigate potential losses.

As a reminder, JSMR is a state-owned enterprise (BUMN) that operates in the toll road services sector and has been in operation since 1 March 1978.

Investors can view JSMR's technical analysis through the following video. (DK/KR/ZH)