Daily Research 10 November 2017

S2 S1 IDX R1 R2
5,955.2 5,995.9 6,042.5 6,082.2 6,110
  • Declining Market. Stock indexes across Europe and US closed down.
  • After a proposed plan by Senate Republicans would push a corporate tax cut back to 2019, which slower than initially expected to be completed later this year.
  • Brexit talks resume between UK-EU with both sides hoping to break a deadlock before the end of the year.
  • Nikkei 225 opens flat tend to move negative this morning, meanwhile Kospi and All Ordinaries opens lower.
  • IDX Composite yesterday confirmed the negative signal indicated by RSI and Stochastic indicator which started to decline, so today it is expected to move in mixed direction with tendency to be negative, support 5980, resistance 6100.
AKRA

Buy on Weakness

S2 S1 Level R1 R2
7,050 7,275 7,325 7,500 7,725

AKRA closed the session lower with a thin volume and a presence of its several support levels that could dampen a further downside movement.

ELSA

Sell on Strength

S2 S1 Level R1 R2
332 360 364 386 424

ELSA was in the negative side with a shooting star formation after fail to break above its diagonal resistance that trend indicating a further downturn.

INDF

Buy on Weakness

S2 S1 Level R1 R2
7,800 7,925 7,950 8,150 8,325

INDF ended the trading negatively with a thin volume and a presence of its several support levels that could dampen a further downside movement.

SMGR

Sell on Strength

S2 S1 Level R1 R2
9,360 9,875 10,100 10,500 10,875

SMGR closed the session lower and break below its diagonal support area with high enough volume indicating a further downturn.

* 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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