- Dow Jones and Asian bourses traded lower this morning as investors sense weakness in corporate earnings on weak global economic growth.
- IDX’s candlestick formed “inverted hammer” pattern, a key reversal day, which may trigger profit taking actions today.
- Rupiah depreciate to IDR 13,800 per US$ this morning, thus we expect a market correction today.
Sell on strength
ADHI still kept on the upside turn also supported by a strong volume. Nonetheless, a formation of a shooting star and a position near a resistance would possibly trim this upswing.
Buy on weakness
DILD was on the weak side nearing its diagonal support yesterday so that any further downturn maybe in a limited range.
LSIP took a considerably high positive turn supported by a high volume and a break on its diagonal resistance suggesting a further upside potential.
SMGR ended the trading po s it ively followed by a long white candle and also a high enough volume creating another favorable opportunity.
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