BBRI Traded at Narrow Channel 6700 – 6750

BBRI traded at a very tight range between 6700 – 6750. Volume did not confirm the commitment of market sentiment. Smaller order were filled at 6700, while larger order tend to filled at 6750. This clearly gave an indication that accumulation or distribution were in progress at current channel.

I decided to clear out of BBRI, due to lack of market commitment to push BBRI higher (indicated by price and volume analysis) and it’s been 3 days since the first entry (trade time limit is reached). I placed a limit sell order at 6750.


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