JAKARTA – Technical analysis by PT Ina Sekuritas Indonesia offers an outlook on the share movement of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) as of Wednesday (28/5).

According to Bloomberg data on Monday (26/5), Vanguard accumulated 30.9 million shares of BBRI.

This brought Vanguard’s ownership in BBRI to 2.03%.

From a technical perspective, BBRI’s share price is forming a running bottom pattern and is currently testing the resistance level of IDR 4,370 per share.

A running bottom pattern (also known as a rounding bottom) in stocks is a chart formation indicating a potential reversal from a bearish to a bullish trend.

Ina Sekuritas added that if BBRI’s share price is able to continue strengthening beyond that resistance level, it could potentially reach IDR 4,560 per share.

For reference, BBRI is a state-owned bank focusing on banking services for the public, particularly in the micro, small, and medium enterprise (MSME) segment.

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