JAKARTA – Shares of PT Barito Renewables Energy Tbk (BREN) have shown positive movement after being accumulated by Prajogo Pangestu, owner of the Barito Pacific Group, who acquired 1.5 million shares of BREN on 25 February 2025.

In addition, foreign investment institutions such as Dimensional Fund Advisors and BlackRock have also increased their holdings in this stock.

From a technical perspective, BREN shares are currently in the support area and have successfully moved past the 20-day moving average (MA). Supported by strengthening stochastic indicators, BREN shares are signaling the potential for further upward movement, with projected prices aiming towards new resistance in the range of IDR 7,000–IDR 7,100 per share.

However, investors should remain cautious of potential corrections. If the price does not move as expected, a cut-loss strategy can be applied at levels between IDR 6,390 and IDR 6,000 per share to mitigate deeper risks.

Investors can review the technical analysis of BREN shares in the following video. (DK/ZH/VA)