Hi Realistic Traders. Here's my price action analysis on BBRI!
BBRI has once again surged above its bullish trendline, maintaining its bullish trend. Additionally, the stock has shaped a bullish divergence and a descending broadening wedge pattern. These combined patterns often signal a strong likelihood of continued bullish momentum. Most notably, it has recently broken through the upper trendline, suggesting a compelling opportunity for further upside movement toward the target area.
Fundamental Driver:
In September 2023, BBRI reported a consolidated net profit of Rp44.21 trillion in the third quarter of 2023, marking a 12.47% increase from the same period in the previous year when it was Rp38.31 trillion. This positive development supports the projected outlook."
it is essential to note that the analysis will no longer hold validity once the target/supprot area is reached.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on IDX:BBRI ."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
Comment
⋅
The Bank Indonesia's decision to keep its interest rate steady at 6% has instilled a positive sentiment in the stock market, consequently contributing to the recent upswing in the banking sector.
Trade closed: target reached
⋅
Gap up and reached the first target
Comment
⋅
I don't see many opportunities in the market, I will keep updating the idea until the market shows signs of opportunities. BBRI may fill the gap before continuing its bull trend