JAKARTA – A technical analysis from PT Ina Sekuritas Indonesia indicates potential movement in the shares of PT Bank Negara Indonesia (Persero) Tbk (BBNI) on Wednesday (26/3).

Technically, BBNI shares are currently in a support zone, with the candle surpassing the 5-day moving average (MA5). Meanwhile, the stochastic indicator shows a bullish crossover, reinforcing the potential for further price increases.

Additionally, BBNI has scheduled its General Meeting of Shareholders (GMS) today (26/3), discussing the dividend distribution plan. This agenda, along with BBNI's planned share buyback, serves as a positive sentiment boosting the movement of this state-owned bank's stock.

Given these factors, BBNI stock has the potential to strengthen towards resistance levels of IDR 4,040 to IDR 4,140 per share.

However, if price movement does not meet expectations, investors may implement a cut loss strategy at levels between IDR 3,780 and IDR 3,710 per share.

Investors can view the technical analysis of BBNI shares in the video below. (DK/ZH)