JAKARTA – Technical analysis from PT Ina Sekuritas Indonesia provides an outlook on the movement of PT Sumber Alfaria Trijaya Tbk (AMRT) shares on Thursday (15 May).

Alfamart has officially acquired a 70% stake in Lawson through PT Midi Utama Indonesia Tbk (MIDI) as of 14 May 2025.

From a fundamental perspective, in Q1 2025, AMRT recorded a 9.32% year-on-year (YoY) increase in net profit.

From a technical perspective, AMRT shares have broken above the MA60 and are testing resistance within a bearish trendline channel.

This follows a double-bottom candlestick pattern, along with a golden cross between MA5 and MA20, signalling potential further strengthening of the stock.

The potential upside for AMRT is estimated in the range of Rp2,660 to Rp2,700 per share, with support levels around Rp2,330 to Rp2,290 per share.

AMRT operates in the retail sector, particularly in minimarkets, managing the Alfamart store network in Indonesia and other countries such as the Philippines.

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

Chart: Bloomberg