Daily Research 10 January 2017

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S2 S1 IDX R1 R2
5,275 5,301   5,313.3 5,347 5,375
  • A weak Dow Jones and regional bourses would send in the negative sentiment.
  • The IDX took a correction after failing to keep up the gaining turn yesterday followed by a bearish engulfing pattern indicating a further downside potential.
  • So, we predict that the IDX would move in the negative side for today.
BMTR

Buy on weakness

S2 S1 Level R1 R2
590 625 645 680 720

BMTR was in the negative side but with a low volume and a presence of a horizontal support that could limit the weak movement.

ICBP

Trading buy

S2 S1 Level R1 R2
8,150 8,500 8,800 8,950 9,250

ICBP ended the session higher with a bullish engulfing pattern and a high enough volume indicating a further upside potential.

ITMG

Sell on strength

S2 S1 Level R1 R2
14,800 16,000 16,225 17,000 18,000

ITMG moved negatively with a bearish engulfing formation and also a break on its support of an uptrend channel that could lead to a further down.

PWON

Buy on weakness

S2 S1 Level R1 R2
540 565 585 610 640

PWON closed the sessio n negatively with a thin volume and the presences of several supports that could slow down the downturn.

* 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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