Daily Research 23 October 2017

 

S2 S1 IDX R1 R2
5,825.1 5,854.5 5,929.5 5,967.1 6,000
  • Dow Jones closed 0.7% higher at 23,328.6 levels backed by positive sentiments on US tax reform.
  • EIDO closed 0.4% higher last Friday expected to support IDX on morning session today.
  • Regional market traded quite positive this morning.
  • IDX’s candlestick formed inverted hammer pattern last Friday which indicates continuation of selling pressure as investors tend to lock profits.
  • In all we expect IDX to trade mixed today.
ADHI

Trading Buy

S2 S1 Level R1 R2
2,030 2,080 2,160 2,170 2,220

ADHI closed the session higher after break above its short term horizontal resistance with high enough volume indicating another upside potential.

JPFA

Sell on Strength

S2 S1 Level R1 R2
1,235 1,340 1,400 1,430 1,555

JPFA moved up rather considerably followed by a high volume but with the presence of its strong horizontal resistance suggesting a limited positive opportunity.

PTBA

Buy on Weakness

S2 S1 Level R1 R2
9,225 10,050 10,600 11,725 11,850

PTBA took a weak movement followed by a long black candle pattern signaling another downside potential.

WTON

Trading Buy

S2 S1 Level R1 R2
535 560 635 665 690

WTON ended the trading positively after break above long term diagonal resistance with higher 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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