JAKARTA – PT Ina Sekuritas Indonesia has provided a technical analysis of the share price movement of PT Bank Negara Indonesia (Persero) Tbk (BBNI) on Friday (16/5).

Ina Sekuritas cited two sentiments that could potentially drive BBNI’s share price higher.

The first is the agreement between China and the United States (US) to lower tariffs. The second is market expectations for a Bank Indonesia (BI) interest rate cut in next week’s meeting.

Technically, BBNI’s share price is currently testing the upper line of a bearish trend line, accompanied by strengthening in the Stochastic indicator.

This condition is seen as opening an opportunity for BBNI’s share price to strengthen toward the resistance range of IDR 4,600 to IDR 4,780 per share.

Meanwhile, the support level lies between IDR 4,440 and IDR 4,330 per share.

For context, BBNI is a state-owned banking issuer offering a wide range of banking products and services to individual, business, and corporate clients.

Investors can access a more complete technical analysis of BBNI shares through the following video. (DK/KR/ZH)