SMBR - Potential Cup and Handle Pattern

As a cement producer company, we can include SMBR in our portfolio as a proxy to economic recovery. As the economy recovers plus the boom from commodities (coal and CPO), infrastructure should get more allocation in Indonesia's 2022 State Budget. The derivate of infrastructure sector is definitely the cement sector. Based on technical analysis, SMBR has support at 790 and 710. We can initiate buy at 790 and set the stop loss at 700. SMBR stock price target is 1040, 1300, 2100, and finally 2450.