Daily Research 16 May 2016

Negative Market.

S2 S1 IDX R1 R2
4,725 4,749 4,761.7 4,775 4,803
  • A weak Dow Jones would send in the negative sentiment in the negative sentiment in the middle of mixed global markets.
  • IHSG took a correction after failing to stay near the psychological level of 4,800 last week. A presence of foreign selling interest would push for a weak trend.
  • So, we predict that the IDX would be in the downside tendency today.

Daily Research:

BBNI

Buy on weakness

S2 S1 Level R1 R2
4,000 4,200 4,480 4,630 4,800

BBNI resumed the downside movement after unable to stay near its resistance. A downside potential would remain possible if its horizontal support is broken down.

TBIG

Sell on strength

S2 S1 Level R1 R2
5,600 6,050 6,650 6,900 7,300

TBIG ended the trading higher with a high volume but the RSI trend already in the overbought area that could dampen a further upside potential.

MDLN

Sell on strength

S2 S1 Level R1 R2
346 366 386 400 420

MDLN was still in the positive side but with a close near its rather strong diagonal resistance that could potentially trim the upside turn.

WTON

Buy on weakness

S2 S1 Level R1 R2
800 840 880 920 960

WTON closed the session negatively with a thin trading volume and an oversold RSI tendency so that any further downturn maybe in a limited range.

* 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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