Daily Research 07 April 2017

S2 S1 IDX R1 R2
5,552.7 5,611.6   5,680.2 5,700 5,730
  • Dow Jones closed 14.8 point higher (0.07%) to 20,662.9 levels after Donald Trump’s statement on North Korea and Syria issues.
  • Asian bourses seen on positive territory this morning, backed by Nikkei which traded 0.9% higher this morning.
  • IDX booked another record high, closed at 5,680.2 myesterday. However it closed on its strong diagonal resistance line which may cap upside potentials.
  • We expect IDX to trade sideways today.
BMRI

Sell on Strength

S2 S1 Level R1 R2
11,600 11,800 12,425 12,500 12,700

BMRI closed the session higher in its diagonal resistance without volume and overbought RSI trend that could limit the upswing.

WIKA

Buy on Weakness

S2 S1 Level R1 R2
2,100 2,210 2,260 2,370 2,480

WIKA moved lower with a c l o se near its recent low. A further downside turn would remain possible if its recent low is broken down.

MNCN

Sell on Strength

S2 S1 Level R1 R2
1,730 1,820 1,880 1,955 2,030

MNCN ended the trading positively in its diagonal resistance with a low volume and overbought RSI trend that could limit the upswing.

PGAS

Trading Buy

S2 S1 Level R1 R2
2,230 2,340 2,450 2,540 2,650

PGAS managed to moved up in a thin range with bullish harami formation suggesting a further 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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