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 Wednesday (26/3).

Based on the results of the AGM on Wednesday (26/3), BBNI decided to distribute dividends of IDR 374.05 per share, equivalent to a 65% payout ratio and a yield of 9.5%.

Technically, BBNI's share price looks to have rebounded from support and currently the candle is testing the Moving Average (MA20).

In addition, the stock movement through the stochastic indicator shows the potential for further strengthening in this stock with resistance of IDR 4,375 to IDR 4,550 per share.

However, if the price does not move as expected, then cut loss at IDR4,040 per share.

BBNI is one of the largest state-owned banks in Indonesia and is engaged in banking.

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

Chart: Bloomberg