JAKARTA – Technical analysis from PT Ina Sekuritas Indonesia offers insights into the movement of shares in PT Adaro Minerals Indonesia Tbk (ADMR), Thursday (5/6).

Since its IPO in 2022, this marks the first time ADMR is allocating dividends, with a payout ratio of 27.48% from the 2024 fiscal year net profit, or IDR 48 per share.

Technically, ADMR shares are forming a bullish trend in the short-term price movement.

Strengthening in the stochastic indicator and a candle rebound from the midline trend suggest the stock may move towards the resistance range of IDR 1,110–1,140 per share.

Meanwhile, the support level for ADMR shares is at IDR 1,010–1,000 per share.

A more detailed technical analysis of ADMR shares is available in the video below. (DK/ZH/VA)

Chart: Bloomberg