Daily Research 19 October 2016

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S2 S1 IDX R1 R2
5,399  5,410   5,430.0 5,457 5,472
  • Mixed global markets would not send in any support.
  • The IDX again edged higher followed by increasing foreign buying actions yesterday. But so, a doji pattern would indicate a slower upside momentum.
  • Therefore, we predict that the IDX would again be in the positive side today.

Daily Research:

ADRO

Sell on Strength

S2 S1 Level R1 R2
1,325 1,405 1,440 1,500 1,550

ADRO took a weak turn with a shooting star and an overbought RSI indicator indicating a further downside movement.

ICBP

Speculative buy

S2 S1 Level R1 R2
8,850 9,300 9,525 10,000 10,275

ICBP ended the trading ne g a tively near its diagonal support with a low volume so that any further downturn maybe in a limited range.

INCO

Trading buy

S2 S1 Level R1 R2
2,620 2,750 2,890 2,970 3,130

INCO managed to move higher with a full white candle and a strong volume after on a downswing recently in which could create another favorable opportunity.

ITMG

Sell on strength

S2 S1 Level R1 R2
12,050 13,000 13,500 14,500 15,475

ITMG moved in the negative territory with a bearish engulfing formation after failing to break its recent high suggesting a further downside potential.

* 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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