Daily Research 13 June 2017

S2 S1 IDX R1 R2
5,590.5 5,643.5   5,691.4 5,770.6 5,837.2
  • Dow Jones closed 36.3 point lower at 21,235.67 levels.
  • Regional bourses traded mixed this morning ahead of FOMC meeting on 13-14 June as we expect the Fed to lift Fed Fund Rate by 25 basis points on the meeting.
  • IDX rebound yesterday with candlestick formed piercing pattern which indicates another upside potential today.
  • We expect IDX to trade mixed with positive tendency today as investors tend to wait and see ahead of the scheduled 13-14 June FOMC meeting and BI’s Board of
    Governor meeting on 14-15 June.
GGRM

Sell on Strength

S2 S1 Level R1 R2
72,750 74,400 77,750 78,500 80,000

GGRM closed the session all time high with a thin volume and overbought RSI trend that could limit the upswing.

GJTL

Buy on Weakness

S2 S1 Level R1 R2
1,020 1,100 1,120 1,195 1,295

GJTL continued the weak turn but with the presences of several supports that could slow down the current downswing.

KLBF

Buy on Weakness

S2 S1 Level R1 R2
1,490 1,520 1,535 1,585 1,620

KLBF ended the trading negatively with bearish engulfing pattern without volume and a presence of its support levels that could dampen a further downside movement.

SMGR

Sell on Strength

S2 S1 Level R1 R2
8,975 9,400 9,650 9,825 10,150

SMGR edged higher but with a position near its rather strong horizontal resistance possibly trimming a further 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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