BANK MANDIRI (PERSERO) TBK
Long
Updated

BMRI - CUP WITH HANDLE

197
I bought the stock today
September 11, 2024

Reasons:
1. Low-risk entry point
2. Long base cup development
3. Formed a classic cup with a nice drifting handle
4. VCP characteristics on the handle
5. One of the leaders in banking sector beside BRIS
6. We're in a general market bull campaign
7. More stocks start showing traction.

Flaws:
1. Currently outperformed by the market
2. No big volume on the breakout

I like to see if it can holds up and continue moving higher from here.
Trade closed: stop reached
Stopped out at 7% loss today.

Trade closed: 30/09/2024

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