Daily Research 24 May 2017

S2 S1 IDX R1 R2
5,643.5 5,697.1   5,730.6 5,791.8 5,837.2
  • Dow Jones closed 0.2% higher at 20,937.9 level ahead of FOMC meeting minute release.
  • Regional bourses traded positive this morning. Oil price steady at US$ 51 per barrel ahead of OPEC meeting.
  • Technical correction pushed IDX lower as investors lock their profits. IDX look intact with its strong uptrend channel. EIDO closed 0.77% lower at 27 levels on Tuesday.
  • We expect IDX to trade mixed with positive tendency today.
ADRO

Trading Buy

S2 S1 Level R1 R2
1,305 1,410 1,475 1,535 1,625

ADRO managed to moved up in a thin range with bullish harami formation suggesting a further upside opportunity.

AKRA

Sell on Strength

S2 S1 Level R1 R2
6,050 6,200 6,350 6,575 6,700

AKRA ended the trading negatively with a bearish engulfing pattern and break to its diagonal support with high enough volume may trigger price correction.

BMRI

Buy on Weakness

S2 S1 Level R1 R2
11,525 11,975 12,250 12,525 13,275

BMRI still carried on the weak turn with the presences of several supports that could dampen the downturn.

INDF

Sell on Strength

S2 S1 Level R1 R2
8,300 8,525 8,800 8,900 9,150

INDF closed the session higher in its diagonal resistance without volume and overbought RSI trend 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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