Short

BBNI Complex Correction?

Updated

The banking rally at the start of December turns out to be a fakeout after all. Today BBNI gapped down and closed just 1 tick above today's low, with HEAVY volume. This shows that BBNI, and most probably other banking stocks haven't found their bottom yet.

If this scenario were to succed, then we will see a rally to welcome the dividend season.

Trade active

Update: 11.06 AM (Jakarta Time, GMT+7)

Vicious drop today. (a) wave might be finishing soon. IHSG looked oversold also

Note

Unbelievable.

Note

Trend is still really bearish. Yesterday's and today's volume were very small; It's a dead cat bounce. I still expect BBNI to correct further.

Note

First trading day of 2025 - Up quite a lot with an okay volume. More data is still needed

Trade closed: target reached

Today's rise marks the end of the complex correction. Lets see where banking stocks go after Bank Indonesia cut 25 bps earlier today.

MrSparkles69

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