JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia provides an overview of the direction of the movement of PT Timah Tbk (TINS) shares, a state-owned enterprise engaged in tin mining, on Tuesday (15/4).

Technically, in yesterday's trading, TINS shares moved up, showing a breakout trend from the bearish wedge (a chart pattern indicating that the stock price will fall) and the MA60 line.

This gives potential towards the next resistance at IDR1050 to IDR1150 per share.

Not only from a technical point of view, in terms of its financial performance, TINS managed to reverse losses to a net profit of IDR1.2 trillion in 2024, so Ina Sekuritas also recommends ‘buy on breakout’ for TINS shares.

However, what if this uptrend is a false breakout? Check out the recommendation and technical analysis of TINS stock further in this video. (DK/VA/LM)

Chart: Bloomberg