Daily Research 21 July 2017

S2 S1 IDX R1 R2
5,702.9 5,769.6   5,825.2 5,865.4 5,910.2
  • Dow Jones closed 0.13% lower at 21,611.78 levels as the market doubt Trump’s administration’s ability to implement pro-growth proposals.
  • Regional bourses traded lower this morning after Mario Draghi’s comment during ECB meeting sessions which indicates that talks about current monetary policy changes (taper) should start this fall.
  • IDX traded higher yesterday but still near its strong diagonal support line.
  • We expect IDX to trade sideways today as foreign investors keep book net sell on Indonesian equities.

Trading Buy

S2 S1 Level R1 R2
1,895 2,000 2,180 2,250 2,330

ADHI ended the trading positively with a long white candle pattern also supported by a high volume indicating another upside potential.


Sell on Strength

S2 S1 Level R1 R2
1,600 1,700 1,820 1,840 1,930

ADRO closed the session higher with high volume but a presence of its several level resistance and near its overbought RSI trend that could limit the upside turn.


Buy on Weakness

S2 S1 Level R1 R2
1,030 1,090 1,135 1,185 1,250

CTRA was on the weak side during the last 6 days but with the presence of its diagonal support in which expectedly could trim the downswing.


Sell on Strength

S2 S1 Level R1 R2
19,200 20,450 21,600 22,200 23,500

ITMG was in the positive side with a long white candle. But so, a position near its recent high would have the chance to dampen the gaining turn.

* 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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