JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia provides an overview of the direction of the share price movement of PT Sumber Alfaria Trijaya Tbk (AMRT) on Thursday (15/5).

AMRT, which operates the Alfamart convenience store chain, recently acquired 70% of Lawson shares through its subsidiary, PT Midi Utama Indonesia Tbk (MIDI), on 14 May 2025.

In the first quarter of 2025, AMRT recorded a 9.32% increase in net profit on an annualised basis, to IDR 975 billion, reflecting consistent growth amid global economic challenges.

From a technical perspective, AMRT's share price showed a strengthening signal after successfully breaking out of the Moving Average (MA) 60.

This happened after the candle formed a double bottom pattern, as well as the formation of a golden cross between MA5 and MA20,

Currently, AMRT's share price is testing resistance on the bearish trendline channel, which could determine the direction of its next move.

Ina Sekuritas estimates the potential strengthening of AMRT's share price to IDR 2,660 to IDR 2,700 per share, with a support level of IDR 2,330 to IDR 2,290 per share.

For information, AMRT is a major player in the Indonesian minimarket retail sector, with a widespread network in the country to the Philippines.

Investors can see a more complete technical analysis of AMRT shares, through the following video. (DK/KR/LM)