JAKARTA - Technical analysis from PT Ina Sekuritas Indonesia provides an overview of the direction of the movement of PT Bank Negara Indonesia (Persero) Tbk (BBNI) shares on Friday (16/5).

Along with the agreement between China and the US to reduce tariffs, as well as expectations that Bank Indonesia (BI) will cut interest rates at next week's meeting, providing the potential for strengthening BBNI shares.

Technically, BBNI shares are currently testing the upper line of the bearish trend line, which is followed by a strengthening stochastic indicator.

This condition provides the potential for strengthening the share price towards the resistance level in the range of Rp4,600 to Rp4,780 per share, with the support level at Rp4,440 to Rp4,330 per share.

BBNI is engaged in general banking and financial services. The bank offers various banking products and services, both for individual, business, and corporate customers.

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