Daily Research 20 April 2017

S2 S1 IDX R1 R2
5,512.7 5,568.1   5,606.5 5,657.8 5,700
  • Dow Jones closed 0.6% lower at 20,404.5 levels. EIDO also closed 1.1% lower yesterday.
  • Lower crude oil price expected to put another pressure to IDX today
  • European bourses traded flat, mostly in positive territory ahead of French Presidential election scheduled this Sunday.
  • DX’s candlestick formed inverted hammer pattern, an indicator that selling pressure were still persist.
  • We expect IDX to trade in negative territory today.

Trading Buy

S2 S1 Level R1 R2
1,700 1,765 1,820 1,865 1,960

BSDE was in the positive side with a full white candle pattern with a high enough volume indicating another favorable potential.

 CTRA

Sell on Strength

S2 S1 Level R1 R2
1,175 1,215 1,265 1,295 1,340

CTRA closed the session higher in its diagonal resistance downtrend channel and without a volume that could limit the upswing.

 PGAS

Buy on Weakness

S2 S1 Level R1 R2
2,200 2,320 2,400 2,530 2,610

PGAS moved down again followed by a long black candle an high enough volume suggesting a further downturn.

Sell on Strength

S2 S1 Level R1 R2
2260 2,330 2,440 2,490 2,560

WSKT ended the trading p o s itively in its short term diagonal resistance without volume and that could limit the upswing.

* 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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