JAKARTA – A technical analysis by PT Ina Sekuritas Indonesia provides insights into the movement of shares in PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO), Friday (21/3).

Yesterday (20/3), SIDO shares were testing the MA20 and successfully rebounded from the lower line within a sideways trend (the lower boundary of the stock price used to determine entry and exit points in trading).

Supported by the corporate action of a share buyback from 21 March to 2 June 2025, totalling 450 million shares, SIDO signals a potential continuation of its upward movement to a price of IDR 585 per share.

However, if the price does not meet expectations, a cut loss should be set at IDR 555 per share, as there is a possibility of a pullback (a temporary decrease in stock price).

For your information, SIDO operates in the herbal and pharmaceutical industry. Sido Muncul also produces food, beverages, cosmetics, and traditional medicines.

Investors can view the technical analysis of SIDO shares in the following video. (DK/ZH)