JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia provides an overview of the direction of the movement of PT Summarecon Agung Tbk (SMRA) shares on Monday (28/4).

Technically, SMRA shares have broken the MA60. Not only that, the stochastic indicator shows the formation of a golden cross between MA5 and MA60, which indicates the potential for further strengthening.

This movement signals the end of the bearish trend in the stock, with the nearest resistance at the level of IDR450 to IDR505 per share.

However, if SMRA's share price does not move as expected, investors are advised to cut loss at the support level of Rp410 per share.

SMRA is a company engaged in the property and real estate sector. Its main activities include the development of residential areas, shopping centres, and various commercial facilities to support the growth of modern urban environments.

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

Chart: Bloomberg