JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia provides an overview of the stock movement of PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) on Friday (March 21).

Yesterday (March 20), SIDO stock was 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).

Additionally, a corporate action in the form of a stock buyback from March 21 to June 2, 2025, involving 450 million shares, signals potential further strengthening of this stock.

SIDO operates in the herbal medicine and pharmaceutical industry. The company also produces food, beverages, cosmetics, and traditional medicine.

The technical analysis of SIDO stock can be viewed in this video. (DK/VA/LM)

Chart: Bloomberg