Daily Research 23 May 2017

S2 S1 IDX R1 R2
5,643.5 5,697.1   5,749.4 5,850.0 5,900.0
  • Dow Jones closed 90 point higher at 20,894.8 levels yesterday. EIDO closed 0.66% lower at 27.21 levels.
  • Regional bourses traded sideways this morning following an incident at Manchester arena (UK) linked with terrorism.
  • Profit taking actions by investors pushed IDX lower as it fail to break strong diagonal resistance line.
  • We expect IDX to trade lower today as investors tend to lock their profits.
BEST

Sell on Strength

S2 S1 Level R1 R2
266 282 300 306 318

BEST was in the positive side but with a closer near its diagonal resistance that could limit upswing.

BNGA

Sell on Strength

S2 S1 Level R1 R2
1,155 1,215 1,260 1,320 1,400

BNGA was in the negative side with a shooting star formation after fail to break above its diagonal resistance that trend indicating a further downturn.

SMGR

Trading Buy

S2 S1 Level R1 R2
8,900 9,100 9,400 9,575 9,825

SMGR ended trading positive in horizontal resistance area with high volume. A break above horizontal resistance may send SMGR higher to test resistance levels.

WSKT

Trading Buy

S2 S1 Level R1 R2
2,230 2,300 2,420 2,490 2,560

WSKT closed the session higher above its diagonal resistance with increasing trading volume indicating another upside potential.

* 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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