Daily Research 07 November 2017

S2 S1 IDX R1 R2
5,915.4 5,974.1 6,050.8 6,052 6,100
  • Dow Jones, S&P 500, and Nasdaq traded higher and booked fresh new high yesterday.
  • Crude oil traded higher as the result of corruption scandal on oil producing region, Saudi Arabia.
  • This morning Nikkei 225 and Kospi traded lower while All Ordinaries traded higher.
  • While Indonesia’s 3Q 2017 GDP only grew by 5.06%Yoy, below 5.1% to 5.2% estimated, IDX managed to closed higher yesterday. In all we expect IDX to continue its positive trend but capped on 6,110 resistance levels while 5,990 support levels expected to prevent deeper potential correction today

Sell on Strength

S2 S1 Level R1 R2
2,740 2,830 2,920 3,000 3,140

BBTN was still in the positive side but with a closer near its horizontal resistance that could limit the upside movement.


Sell on Strength

S2 S1 Level R1 R2
2,800 2,950 3,170 3,240 3,370

INCO closed the session higher after break above horizontal resistance with higher volume indicating another upside potential.


Buy on Weakness

S2 S1 Level R1 R2
19,950 20,800 21,475 22,175 23,175

ITMG moved lower with a close near its recent low. A further downside turn would remain possible if its recent low is broken down.


Speculative Buy

S2 S1 Level R1 R2
1,865 1,950 2,020 2,090 2,170

WIKA ended the trading positively with long white candle pattern near its diagonal resistance with high enough volume that could break above diagonal resistance.

* 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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