JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia provides an overview of the direction of the movement of PT Pertamina Geothermal Energy Tbk (PGEO) shares, Monday (24/3).

Technically, PGEO shares are moving in a bearish trend and strengthening past MA5, accompanied by stochastic indicators signalling limited strengthening in this stock towards the nearest resistance.

For information, PGEO plans to distribute dividends with an estimated dividend payout ratio of 80 to 90%.

PGEO is a subsidiary of PT Pertamina Power Indonesia, which is engaged in geothermal exploration, exploitation, and production.

Technical analysis of PGEO shares can be seen in this video.(DK/VA/LM)

Chart: Bloomberg