Daily Research 18 May 2017

S2 S1 IDX R1 R2
5,534 5,577   5,615.5 5,688 5,725
  • Dow Jones closed 372.8 point lower (-1.8%) at 20,606.9 levels as investors concerns about Mr. Trump’s policies. EIDO closed 2.56% lower at 25.84 levels.
  • Regional bourses traded negative this morning.
  • IDX closed below its recent low, which also break short term diagonal support line, thus selling pressure expected to persist today.
  • We expect IDX to trade on negative territory today.
ASII

Sell on Strength

S2 S1 Level R1 R2
7,900 8,150 8,350 8,700 9,000

ASII closed below its recent low. ASII’s price pattern also showed a break to its short term diagonal support line which ends its short term uptrend channel. ASII may trade lower to test its support levels.

BBNI

Sell on Strength

S2 S1 Level R1 R2
6,150 6,400 6,500 6,725 6,900

BBNI seemed making double top formation as its second peak is lower compared to its first peak. A break below short term diagonal support line may trigger price correction.

BBRI

Sell on Strength

S2 S1 Level R1 R2
13,725 13,975 14,100 14,300 14,550

BBRI’s candlestick formed bearish harami pattern which may limit upside potentials. BBRI may trade lower to test its resistance levels.

PTPP

Trading Buy

S2 S1 Level R1 R2
2,700 2,840 2,950 2,980 3,200

PTPP seemed making double bottom formation. The pattern valid if PTPP break above recent high level (R1) with price target set at R2.

* 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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