BBRI Is Going To Bottom in Mid-December

2024年12月1日

After a constant barrage of selling from March until June, and then quite of a rebound from 4100 to 5600 (almost 40%), BBRI continues to dive almost everyday since mid-September. This is supported by the huge foreign outflow BBRI has been suffering. Last Friday, BBRI's foreign outflow amounts to IDR823 billion. To put into perspective, IHSG Friday foreign outflow is IDR1.6 trillion, which means BBRI accounts for more than half of the outflow from IHSG.

Technical wise, BBRI has now constantly being traded under its 200 day moving average for almost 3 months. BBRI will most likely complete the (iii) wave of the C wave next week around 4100. Volume on last Friday's trading is relatively large. This means selling has not eased yet. I believe BBRI will bottom under 4000; 3700-3800

2024年12月13日

交易开始

Update: the (iii) wave actually ended above the (iii) sign, but this plan is still on track. Wave (iv) just ended two days ago (11th Dec 2024). Currently, we have entered the fifth wave. Prepare your cash

2024年12月17日

注释

Sub-4000 is looking much more likely. Quite a big volume for today's trading. Moreover, BBRI announced that it will distribute an interim dividend of IDR135/share, indicating a ~3.25% yield as of today's close.

2024年12月19日

注释

4050 was today's low. IHSG still getting clobbered, even worse for today. We are wave (v) underway

1月7日

注释

We are still at wave (v). I dont know if it's going to be an impulse or ending diagonal. Both are possible. Start buying.