Daily Research 16 November 2017

S2 S1 IDX R1 R2
5,910.5 5,955.2 5,972.3 6,044.3 6,082.2
  • US and Europe Stock indices closed in negative territory yesterday, dragged down by energy sector after the International Energy Agency lowered its
    forecasts on global oil demand which then drew down oil prices.
  • Nikkei 225 and All Ordinaries opened down this morning, Kospi closed for holiday.
  • Although there is a chance of rebound after declining in 6 days in a row, investor still have to wary on negative global sentiment. Support is limited to 5915,
    resistance 6030.
ADRO

Sell on Strength

S2 S1 Level R1 R2
1,665 1,700 1,735 1,840 1,890

ADRO closed the session lower with long black candle pattern and break below diagonal support with higher volume indicating a further downturn.

BBCA

Sell on Strength

S2 S1 Level R1 R2
19,650 20,325 21,025 21,325 21,625

BBCA edged higher but wit a position near its recent high possibly a further upside potential.

PTBA

Sell on Strength

S2 S1 Level R1 R2
10,000 10,650 11,225 11,725 12,150

PTBA was on the negative side with a formation a long black candle yesterday indicating another downside movement.

SMGR

Buy on Weakness

S2 S1 Level R1 R2
9,500 9,700 9,850 10,200 10,500

SMGR ended trading negatively with a thin volume and a presence of its several support levels that could dampen a further 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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