JAKARTA — A technical analysis from PT Ina Sekuritas Indonesia provides insights into the movement of shares in PT Indocement Tunggal Prakarsa Tbk (INTP) on Friday (23/5).

INTP shares are currently testing resistance at the IDR 5,650 per share level, which coincides with the 0.382 Fibonacci retracement level.

Ina Sekuritas added that if INTP shares manage to break through this resistance, there is potential for the stock to strengthen further towards IDR 6,000 per share.

Previously, INTP’s general meeting of shareholders (RUPS) on Wednesday (21/5) approved a share buyback programme worth IDR 2.25 trillion.

There is also potential sentiment stemming from the announcement of a cash dividend of IDR 259 per share, with the cum date on the regular market set for 2 June 2025.

As one of the major players in the cement industry, INTP produces various types of cement, ready-mix concrete, and aggregates.

In addition, INTP is also engaged in coal mining and the extraction of other mineral resources.

Investors can view a more detailed technical analysis of INTP shares in the following video. (DK/ZH)