JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia provides an overview of the direction of the movement of PT Indocement Tunggal Prakarsa Tbk (INTP) shares on Wednesday (16/4).

Technically, INTP shares in yesterday's trading managed to breakout from MA60 accompanied by strengthening stochastic indicators, giving the potential to continue strengthening towards resistance at IDR 5,675 to IDR 6,050 per share.

In addition, INTP will conduct a share buyback of IDR2.25 trillion and is awaiting shareholder approval through the AGM on 21 May 2025.

INTP is one of the largest cement producers in Indonesia.

However, not only in the cement industry, INTP also has various businesses in other sectors such as building materials, mining, construction, and trade.

Technical analysis of INTP shares can be seen in this video.(DK/VA)

Chart: Bloomberg