The current technical situation of GIAA shares has not moved from a solid mid-term selling trend.

Decisive steps must finally be taken by BUMN Minister Erick Thohir, after clear allegations that the Managing Director of the airline company Garuda Indonesia Airways was involved in the smuggling of luxury Harley Davidson motorcycle products using Garuda aircraft.

Minister Erick Thohir fired the head of a state-owned airline company that had been considered quite prestigious. This smuggling incident seemed to slap the efforts of Minister Erick who was hard to clean up under President Jokowi's government.

The clean-up effort by Minister Erick is very appropriate, but other challenges seem to need to get the minister's attention which is quite popular. To be noted, the state-owned airline company Garuda, whose shares have now been traded on the Indonesian stock exchange with the GIAA code, is currently in a dismal mid-term selling trend.

The following daily chart shows the technical situation of GIAA shares which still has to face the endless selling pressure:

Admittedly, the movement of GIAA stock prices as shown in the chart above began to stop the upward movement just before the formation of Jokowi's government cabinet volume 2. GIAA stock price movements, after consolidating after the session last October 20, then tended to go down the correction ladder until yesterday's trading session.

The smuggling scandal that led to the dismissal of the chief director by Minister Erick finally further confirmed the ongoing selling trend. The downward movement of GIAA stock prices, thus still has great potential to continue into the next few trading session days, along with the still solid selling trend which is indicated by the still wide distance between the MA-Signal line indicator and its psychological technical limits.