Global Mediacom Tbk (BMTR) has been outperforming the benchmark JSX Composite Index since the start of 2011. BMTR has recorded a year to date gain of 43% as compared to a decline of 4% seen in the JSX Composite Index based on their respective closing prices on 8th March 2011. The multi-month uptrend remains intact for BMTR as it continues to display a series of higher lows, higher highs and trades above the 20 and 50-day moving averages. Recently, it has also flashed a Stochastic bullish crossover signal at the oversold region. This observation suggests that BMTR may continue to see further upside potential to test the resistance at Rp900 and above it may see an upside push to test the next resistance at Rp990. However, a violation below the immediate support at Rp760 may see a consolidation at the Rp690 support level.

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