JAKARTA – Technical analysis from PT Ina Sekuritas Indonesia provides insight into the price movement of PT Telkom Indonesia (Persero) Tbk (TLKM) shares on Monday (5/5).

Technically, TLKM's stock price is currently above the 60-day Moving Average (MA60), with the gap between MA60 and MA20 narrowing, increasing the chances of a golden cross pattern forming.

This pattern is often seen as a signal for further strengthening, potentially pushing TLKM's stock price towards the nearest resistance level at IDR 2,730 to IDR 2,770 per share.

As one of Indonesia's leading companies, TLKM operates in Information and Communication Technology (ICT) and telecommunications networks, offering services such as mobile telephony, landline, internet, and paid television.

However, Ina Sekuritas also cautioned investors to remain vigilant against the potential for decline. If TLKM’s stock price falls below the support at MA5, around IDR 2,610 per share, this could signal a weakening trend.

Investors can view a more comprehensive technical analysis of TLKM stock through the following video. (DK/KR/ZH)