JAKARTA – A technical analysis by PT Ina Sekuritas Indonesia provides insights into the price movement of PT Sumber Alfaria Trijaya Tbk (AMRT) shares on Monday (24/2).

While AMRT shares are currently in a downtrend phase, technical indicators such as stochastic suggest that the stock could potentially break through the upper line of its bearish trend, with a possible price target between IDR 2,720 and IDR 2,820 per share.

AMRT, the parent company of the Alfamart minimarket chain, operates in the retail sector, specialising in convenience stores.

For a deeper look at AMRT’s technical analysis, you can refer to the video. (DK/ZH)

Chart provided by Bloomberg.