Daily Research 04 May 2017

S2 S1 IDX R1 R2
5,577.5 5,627.9   5,647.4 5,703.87 5,750
  • Dow Jones closed 8 point higher at 20,957.9 levels after the Fed decided to leave interest rate unchanged.
  • Metal prices closed lower after release of China’s manufacturing data which came out lower than expected.
  • IDX traded lower to test its support levels.
  • We expect IDX to trade lower today.
ADRO

Speculative Buy

S2 S1 Level R1 R2
1,530 1,600 1,630 1,750 1,820

ADRO closed the session lower near its diagonal support with a thin volume and oversold RSI trend suggesting a limited downside potential.

BNGA

Sell on strength

S2 S1 Level R1 R2
1,155 1,215 1,270 1,315 1,365

BNGA closed the session lower with a bearish engulfing formation and a high enough volume suggesting a further down.

ITMG

Sell on Strength

S2 S1 Level R1 R2
16,150 17,075 18,050 19,100 20,075

ITMG ended the trading weaker with a high enough volume suggesting another downside potential.

TINS

Speculative Buy

S2 S1 Level R1 R2
805 860 900 945 995

TINS ended the trading ne g a tively near its diagonal support without volume and near oversold RSI trend that could dampen a further downside movement.

* 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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