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 Friday (23/5).

Based on the results of the AGM on Wednesday (21/5), INTP set a share buyback of IDR 2.25 trillion.

In addition, there is also potential sentiment formed after the announcement of cash dividends of IDR 259 per share, with a cum date for dividends on the regular market on 2 June 2025.

From a technical perspective, INTP shares are currently testing resistance at the level of IDR5,650 per share, which coincides with the Fibonacci retracement level of 0.382.
If INTP shares are able to pass the resistance, it has the potential to continue strengthening to the level of Rp6,000 per share.

INTP is engaged in the cement industry, producing various types of cement, ready-mixed concrete, and aggregates.

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

Chart: Bloomberg