JAKARTA – A technical analysis by PT Ina Sekuritas Indonesia outlines the projected movement of PT Bumi Resources Tbk (BUMI) shares on Tuesday (3/6).

Following the Annual General Meeting of Shareholders (AGMS) held on Monday (2/6), BUMI approved a quasi-reorganisation, which is expected to be reflected in the company’s Q2 2025 financial statements.

Management stated that the capital restructuring via the quasi-reorganisation is intended to enable the company to pay dividends.

From a technical standpoint, BUMI shares have rebounded from the 20-day moving average (MA20), accompanied by strengthening stochastic indicators.

According to Ina Sekuritas, the nearest resistance level for BUMI lies at IDR 125–127 per share, with the next resistance band at IDR 134–136 per share.

On the downside, the closest support is at IDR 116–114 per share.

A more detailed technical analysis of BUMI shares is available via the following video. (DK/ZH)

Chart: Bloomberg