JAKARTA – Technical analysis from PT Ina Sekuritas Indonesia suggests potential for further strength in PT Bank Negara Indonesia (Persero) Tbk (BBNI) stock on Monday, February 17.

The analysis highlights an improved performance outlook for 2024, with the stochastic indicator showing that the stock has broken through its resistance levels and formed a new support line, signalling the possibility of continued strengthening.

Established in 1946, BBNI is one of the largest state-owned banks in Indonesia.

You can view the full technical chart and analysis in the video provided. (DK/ZH)

Chart: Bloomberg