JAKARTA - PT Bumi Resources Tbk (BUMI)  has the potential to experience a breakout in today's trading, Tuesday (11/3).

Positive sentiment arises from the plan to adjust royalty rates in the mineral and coal sector (minerba), which is expected to have a good impact on BUMI's stock performance.

Technically, BUMI shares are still in a bearish trend but are currently testing the Moving Average 20 (MA20) level. If the share price is able to penetrate the range of IDR102-IDR105 per share, then the opportunity for a breakout is increasingly open.

As a company engaged in the coal and oil mining sector, BUMI also has subsidiaries operating in various fields, including energy, property, investment, and financial services.

Investors are advised to pay close attention to BUMI's share price movement in today's trading, especially in the face of a potential breakout that could change the current technical trend.

In the first trading session today (11/3), BUMI's share price fell 1.96% from IDR102 to IDR100 per share. However, in the last 5 days, BUMI's share price has risen 7.53%.

For more details, check out the technical analysis of BUMI shares in the following video. (DK/LM)