Kalbe Farma stock slips after a buy on weakness call

Kalbe Farma stock (ISIN ID1000096605) fell 1.94 percent to IDR 760 on September 20, 2026, after MNC Sekuritas kept the name on a buy on weakness view. The same note said the move was still contained by MA60 and set a buy on weakness range of IDR 710 to IDR 735.

Chart level stays in view

According to IDXChannel on September 20, 2026, KLBF was seen in wave Y of wave (B), with targets at IDR 785 and IDR 810 and a stoploss below IDR 690. The broader Jakarta market also weakened, as the IHSG fell 0.33 percent to 6,441 at Friday's close and was still down 1.53 percent for the week.

That sets a tight trading frame. For investors, the IDR 760 close sits between the cited support band and the stated targets, so the chart reference is the clearest near-term guide in the available market note.

Market pressure broadens

According to Bisnis.com on September 20, 2026, MNC Sekuritas also listed KLBF among its buy on weakness ideas together with BULL, TLKM and BBCA. The same report said IHSG slipped to 6,441.159 by the end of the week and that BEI market capitalization fell 1.58 percent to IDR 11,266 trillion from IDR 11,446 trillion a week earlier.

Those numbers matter because they show KLBF moving inside a weaker index tape, not in isolation. The combination of a 1.94 percent stock decline, a 0.33 percent IHSG drop and a weekly 1.58 percent fall in BEI market value leaves the setup centered on price discipline rather than a fresh company-specific rerating.

Closing price and setup

Kalbe Farma stock closed at IDR 760 on September 20, 2026, down 1.94 percent, with the main chart reference now the IDR 710 to IDR 735 support band and IDR 785 to IDR 810 resistance area cited by MNC Sekuritas.

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