Daily Research 02 Mei 2016

Negative Market.

S2 S1 IDX R1 R2
4,800 4,825 4,838.5 4,875 4,900
  • Global markets on downside trend would send in the unfavorable pressure.
  • The IDX took a correction followed by foreign selling actions last week but with a doji formation signaling a not so strong downside momentum.
  • Therefore, we predict that the IDX would in the downside trend today.

Daily Research:

AKRA

Buy on weakness

S2 S1 Level R1 R2
5,800 6,100 6,500 6,700 7,000

AKRA still carried on the downturn with a close near several supports and a hammer pattern indicating a limited downside potential.

BJBR

Sell on strength

S2 S1 Level R1 R2
880 910 940 955 995

BJBR moved in the positive side with a position near a resistance and a not so strong volume that could create a correction potential.

GGRM

Sell on strength

S2 S1 Level R1 R2
66,000 68,000 69,250 70,200 72,000

GGRM ended the trading in the weak side with a formation of a bearish shooting star pattern suggesting a further downturn.

HMSP

Sell on strength

S2 S1 Level R1 R2
92,500 97,900 99,875 101,000 104,000

HMSP still moved higher on Friday but with a close near several resistances that could dampen the upside opportunity.

* This report is for informational purposes only. This report is exclusively published for the use of Kiwoom Securities clients, and may not be reproduced or distributed. While the information was collected from secure sources, Kiwoom Security does not guarantee the accuracy or reliability of the information. Kiwoom Securities bears no liability for any losses that may occur from investments based on the information provided in this report.

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