# Technical Analysis: GJTL (Gajah Tunggal Tbk)
**Exchange:** IDX (Indonesia Stock Exchange)
**Analysis Date:** July 16, 2026
**Current Price:** Rp1,120 | **Currency:** IDR

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## 1. PRICE vs 52-WEEK HIGH/LOW

| Metric | Value |
|--------|-------|
| Current Price | Rp1,120 |
| 52-Week High | Rp1,265 |
| 52-Week Low | Rp925 |
| Distance from 52W High | **-11.5%** (Rp145 below high) |
| Distance from 52W Low | **+21.1%** (Rp195 above low) |
| Position in 52W Range | ~87th percentile |

**Trend Assessment:** Price has pulled back ~11.5% from its 52-week high. Currently trading near the upper end of its 52-week range, but below the peak. YTD return: +6.16%.

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## 2. MOVING AVERAGES

| Indicator | Value | Price vs MA | Signal |
|-----------|-------|-------------|--------|
| **EMA 10** | 1,116 | Price above (+Rp4) | Bullish |
| **SMA 10** | 1,115 | Price above (+Rp5) | Bullish |
| **EMA 20** | 1,122 | Price below (-Rp2) | Neutral |
| **SMA 20** | 1,126 | Price below (-Rp6) | Neutral |
| **EMA 30** | 1,127 | Price below (-Rp7) | Neutral |
| **SMA 30** | 1,118 | Price above (+Rp2) | Neutral |
| **EMA 50** | 1,132 | Price below (-Rp12) | Bearish |
| **SMA 50** | 1,149 | Price below (-Rp29) | **Bearish** |
| **EMA 100** | 1,124 | Price below (-Rp4) | Neutral |
| **SMA 100** | 1,126 | Price below (-Rp6) | Neutral |
| **EMA 200** | 1,108 | Price above (+Rp12) | Bullish |
| **SMA 200** | 1,086 | Price above (+Rp34) | **Bullish** |

**MA Summary (Daily):** Sell: 8 | Neutral: 1 | Buy: 6
**Interpretation:** Short-term MA (50) acting as resistance. Price below SMA 50 suggests short-term bearish bias. However, price above SMA 200 and EMA 200 indicates longer-term bullish trend intact.

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## 3. SUPPORT & RESISTANCE LEVELS (Classic Pivot)

| Level | Value |
|-------|-------|
| **R3 (Resistance 3)** | 1,602 |
| **R2 (Resistance 2)** | 1,357 |
| **R1 (Resistance 1)** | 1,233 |
| **Pivot Point (PP)** | 1,112 |
| **S1 (Support 1)** | 988 |
| **S2 (Support 2)** | 867 |
| **S3 (Support 3)** | 622 |

**Key Observations:**
- Current price (1,120) is very close to Pivot Point (1,112) — a neutral balance zone
- Immediate resistance: R1 at 1,233 (+10.1% upside potential)
- Immediate support: S1 at 988 (-11.8% downside risk)
- Strong resistance cluster: R2 at 1,357 (+21.2%)
- Deep support: S2 at 867 (-22.6%)

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## 4. OSCILLATORS & INDICATORS

| Indicator | Value | Signal |
|-----------|-------|--------|
| **RSI (14)** | 48 | Neutral |
| **Stochastic %K (14,3,3)** | 50 | Neutral |
| **CCI (20)** | -20 | Neutral |
| **ADX (14)** | 14 | Neutral (Weak Trend) |
| **Awesome Oscillator** | -15 | Neutral |
| **Momentum (10)** | 0 | **Sell** |
| **MACD Level (12,26)** | -8 | **Buy** |
| **Stochastic RSI Fast (3,3,14,14)** | 85 | Neutral |
| **Williams %R (14)** | -33 | Neutral |
| **Bull Bear Power** | 10 | Neutral |
| **Ultimate Oscillator (7,14,28)** | 42 | Neutral |

**Oscillator Summary:** Sell: 1 | Neutral: 9 | Buy: 1
**Overall Summary:** Sell: 9 | Neutral: 10 | Buy: 7

**Key Indicator Interpretation:**
- **RSI 48:** Neither overbought (>70) nor oversold (<30). Healthy reading with room to move in either direction.
- **MACD:** Negative (-8) but generating a "Buy" signal — minor positive divergence.
- **Stochastic RSI 85:** Approaching overbought territory in fast stochastic — caution on upside.
- **ADX 14:** Very weak trend (below 20). Stock is in a consolidation phase.
- **Momentum:** Zero — confirms lack of directional momentum.

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## 5. VOLUME ANALYSIS

| Metric | Value |
|--------|-------|
| Average Volume (3M approx) | ~1,001,200 shares |
| Recent Session Volume | ~480,800 shares (partial day 7/16) |
| Beta (1Y) | 0.77 (low volatility vs market) |

**Recent Daily Volumes (late June – July 2026):**
| Date | Close | Volume |
|------|-------|--------|
| Jun 29 | 1,120 | 1,776,300 |
| Jun 30 | 1,120 | 2,162,900 |
| Jul 1 | 1,115 | 2,033,300 |
| Jul 2 | 1,125 | 2,657,500 |
| Jul 3 | 1,120 | 1,617,000 |
| Jul 6 | 1,120 | 1,102,900 |
| Jul 7 | 1,120 | ~1,150,000 |
| Jul 14 | 1,110 | 2,280,600 |
| Jul 15 | 1,120 | 921,700 |

**Volume Assessment:** Recent trading volume is moderate relative to the average. Some sessions show elevated volume (Jun 30, Jul 2, Jul 14) coinciding with minor price movements. Low Beta of 0.77 indicates GJTL is less volatile than the broader market.

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## 6. FUNDAMENTAL SNAPSHOT (Context)

| Metric | Value |
|--------|-------|
| Market Cap | Rp3.87T |
| P/E Ratio (TTM) | ~3.0x – 5.0x |
| Dividend Yield | 7.14% |
| EPS (TTM) | Rp365 |
| Revenue (FY) | Rp17.66T |
| Net Income (FY) | Rp1.24T |
| Sector | Automotive Aftermarket |

**Note:** Extremely low P/E (~3-5x) and high dividend yield (7.14%) make GJTL attractive value play in the automotive tyre sector.

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## 7. OVERALL TECHNICAL VERDICT: **HOLD**

### Scorecard:
| Category | Signal | Strength |
|----------|--------|----------|
| Price vs 52W High/Low | Neutral/Bullish | Moderate |
| MA 50 (SMA) | Bearish | Moderate |
| MA 200 (SMA) | Bullish | Moderate |
| RSI | Neutral (48) | Weak |
| MACD | Buy (minor) | Weak |
| Trend Strength (ADX) | No Trend (14) | Weak |
| Oscillator Summary | Neutral | Moderate |
| Support/Resistance | Confined in range | Moderate |

### Reasoning:
1. **Short-term:** Price below SMA 50 (1,149) and EMA 50 (1,132) signals short-term weakness. Immediate resistance at 1,233.
2. **Medium-term:** Price above EMA 200 (1,108) and SMA 200 (1,086) — longer-term uptrend intact.
3. **Momentum:** RSI 48 and zero momentum reading indicate **no clear directional bias**. ADX of 14 confirms the stock is **consolidating**, not trending.
4. **Value:** Low P/E (~3-5x) + 7.14% dividend yield provides strong fundamental support. The stock appears cheap on earnings basis.
5. **Risk:** Support at 988 (S1) represents -11.8% downside. A break below 1,000 could accelerate selling.

### Recommendation:
> **HOLD** — GJTL is in a consolidation phase with short-term bearish pressure but longer-term bullish structure. The stock is near fair value (pivot at 1,112) with no clear trend. Wait for a breakout above R1 (1,233) or breakdown below S1 (988) before establishing a directional position. The high dividend yield provides a cushion for long-term holders. Short-term traders may look for opportunities around S1/R1 levels.

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*Data Sources: TradingView Technicals Tab, Google Finance GJTL:IDX, Yahoo Finance (embedded), IDX/GJTL official filings. Data as of July 16, 2026.*