JAKARTA – PT Ina Sekuritas Indonesia has released a technical analysis on the movement of PT Indocement Tunggal Prakarsa Tbk (INTP) shares on Wednesday (April 16).

During Tuesday's (April 15) trading session, INTP shares showed signs of price strengthening, supported by a breakout above the 60-day Moving Average (MA60) and stochastic indicator improvement.

These two indicators suggest that INTP shares could continue their upward trend, reaching resistance levels in the range of Rp5,675 to Rp6,050 per share.

However, Ina Sekuritas also warned of a possible false breakout. If the candlestick pattern shows weakness, investors are advised to cut losses at Rp5,250 per share.

Beyond technical factors, a positive sentiment boost for INTP shares comes from the company’s buyback plan worth Rp2.25 trillion, recently announced.

This buyback proposal is still awaiting shareholder approval at the General Meeting of Shareholders (GMS), scheduled for May 21, 2025.

For reference, INTP is one of Indonesia’s largest cement producers. In addition to its core cement industry, the company has diversified into building materials, mining, construction, and trading.

Investors can view the full technical analysis of INTP shares in the following video. (DK/KR/LM)