JAKARTA — Technical analysis from PT Ina Sekuritas Indonesia outlines the potential price movement of PT Wismilak Inti Makmur Tbk (WIIM) shares on Tuesday (10/3).

At present, WIIM’s candlestick pattern is moving within a bullish trend. The latest candle appears to have rebounded from the lower boundary of that bullish trendline.

According to the analyst, this rebound opens the potential for further upside towards resistance levels at IDR 2,040 and IDR 2,130. Meanwhile, support levels are seen at IDR 1,820 and IDR 1,800.

WIIM is one of the key players in the tobacco and cigarette industry.

The company produces various types of hand-rolled clove cigarettes (SKT), machine-made clove cigarettes (SKM), cigars, and cigarette filters, with well-known brands including Diplomat, Wismilak, and Galan. Its distribution network is focused on the Indonesian market.

For the full technical analysis of WIIM shares, see the following video. (DK/ZH)

Chart: Bloomberg