JAKARTA – Shares of PT Timah Tbk (TINS), a state-owned enterprise engaged in tin mining, are showing further potential for strengthening.

According to technical analysis released by PT Ina Sekuritas Indonesia, TINS shares experienced an increase in the previous trading session and signaled a breakout from the bearish wedge pattern, successfully surpassing the 60-day Moving Average (MA60).

This pattern is generally an indication of a trend reversal from weakening to strengthening.

As a result, there is potential for TINS shares to continue rising toward the next resistance level, estimated in the range of Rp1,050 to Rp1,150 per share.

However, Ina Sekuritas also warned of the possibility of a false breakout, in which the price fails to maintain its upward trend and declines again.

If the stock price moves contrary to expectations, a cut loss strategy is suggested at levels Rp990 to Rp960 per share.

From a fundamental standpoint, the outlook for TINS shares is further supported by improved financial performance. In 2024, the company reported a net profit of Rp1.2 trillion, reversing its previous year's loss.

Considering these technical and fundamental aspects, Ina Sekuritas recommends a “buy on breakout” strategy for TINS shares.

Investors can find a detailed technical analysis of TINS shares in the following video. (DK/LM)