Daily Research 18 October 2017

 

S2 S1 IDX R1 R2
5,863.9 5,914.3 5,947.3 5,967.1 6,000
  • Dow Jones closed 40.5 point higher at fresh new high 22,997.4 levels backed by positive sentiments over US earnings season.
  • Regional market traded sideways this morning due to lack of positive catalyst.\
  • IDX’s candlestick formed “hanging man” pattern yesterday although the market pressured by large net sell position from foreign investors. As it formed at the top of a strong uptrend channel, it may send false signal.
  • In all we expect IDX to trade sideways with negative tendency today.
ASII

Buy on weakness

S2 S1 Level R1 R2
7,775 8,025 8,250 8,475 8,675

ASII was in the negative side but with a close near its horizontal support that could limit the downturn movement.

BMTR

Sell on Strength

S2 S1 Level R1 R2
515 575 610 620 655

BMTR moved higher considerably but with a close near its resistance that could trim another positive movement.

ADHI

Sell on strength

S2 S1 Level R1 R2
800 840 870 880 950

ERAA closed the session higher with declining volume suggesting a limited upside potential.

SCMA

Buy on weakness

S2 S1 Level R1 R2
1,960 2,080 2,130 2,190 2,310

SCMA was on the weak s ide near its horizontal support that could possibly lead to a limited downside movement

* 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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