Journal of Business Economics and Management
Vol. 3 No. 2 (2026): Oktober-Desember

Analisis Pergerakan Saham Bank BNI (BBNI) Menggunakan Kombinasi Indikator Bollinger Bands Dan Relative Strength Index (RSI)

Muh. Farhan (Program Studi Sains Aktuaria, Universitas Negeri Makassar)
Hisyam Ihsan (Program Studi Sains Aktuaria, Universitas Negeri Makassar)
Afiq Naufal (Program Studi Pendidikan Matematika, Universitas Negeri Makassar)
Nurul Khaeriya (Program Studi Sains Aktuaria, Universitas Negeri Makassar)
Agung Prayitno (Program Studi Sains Aktuaria, Universitas Negeri Makassar)



Article Info

Publish Date
05 Nov 2026

Abstract

This study analyzes the price movement of PT Bank Negara Indonesia (Persero) Tbk (BBNI) shares using a combination of Bollinger Bands and the Relative Strength Index (RSI) and identifies the resulting buy and sell signals. A descriptive quantitative approach was applied to secondary monthly closing price data from Yahoo Finance, comprising 25 observations (January 2024–January 2026). Bollinger Bands were calculated with a 20-period window and a deviation factor of 2, RSI with a 14-period window, and the data were processed using RStudio. A buy signal was defined as the price at or below the lower band with RSI ≤ 30, and a sell signal as the price at or above the upper band with RSI ≥ 70. The closing price fell from IDR 5,750 to IDR 4,490. From August 2025 to January 2026, the price stayed between the lower and upper bands and below the middle band, while the band width narrowed from 52.6% to 38.3%. RSI ranged from 35.0 to 44.0 and remained in the neutral zone throughout. Consequently, the combination of the two indicators produced neither buy nor sell signals, so its accuracy could not be measured. Future research is advised to use daily data so that signals can be tested.

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Journal Info

Abbrev

jbem

Publisher

Subject

Economics, Econometrics & Finance

Description

Journal of Business Economics and Management (E-ISSN : 3063-8968) published by Global Sciences Publishers. The Journal of Business Economics and Management provides a forum for Students and Lecturers to explore issues and reflect on quantitative research. Journal of Business Economics and Management ...