StockWatch (Jakarta) - Shares of animal feed producer PT Central Proteinaprima Tbk (CPRO) are expected to increase further after closing up IDR 15 per share yesterday (26/4) at IDR300, considering that some technical indicators have entered a positive area.
Ronny Nababan, an analyst at PT reliance Securities Tbk (RELI), said the shares are moving within an uptrend area, while in the previous trading day the shares were consolidating after rising sharply.
Nababan said that generally the middle uptrend channel line has confirmed a breakout supported by the MACD indicator which is moving uptrend. Besides, CPRO has just broken the sector and the JSX indices, which should open a way for increasing further.
However, he has reminded that the shares are likely to consolidate in the short term though it may hike at IDR350/360 per share in the long term. (esta/bud)
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