The Indonesian stock showing the most bullish indicators is INCO, based on the following analysis:
- Potential BAT Pattern Formation: Technical analysts have identified a potential BAT pattern on the weekly timeframe for INCO. This pattern suggests a bullish outlook, assuming the price completes the pattern, although it is still in an early stage. This prediction should be considered speculative and requires further research before any investment decisions are made1.
- Gartley Pattern Formation: There is also a prediction of a Gartley pattern forming on the daily timeframe for INCO. Similar to the BAT pattern, this indicates a bullish scenario, but it is also in the early stages and should be approached with caution1.
- Rights Issue Price: The rights issue price for INCO is significantly lower than the current price, which could provide a potential entry point for investors if the price were to drop to the rights issue level1.
It's important to note that these indicators are speculative and should be used in conjunction with fundamental analysis and other market factors. Additionally, the ongoing rights issue for INCO could be a factor in the stock's performance, as it may affect supply and demand dynamics.