Daily Research 17 November 2017

S2 S1 IDX R1 R2
5,969.4 5,995.2 6,037.9 6,050.8 6,082.2
  • Stock indices in the US and Europe closed significantly higher yesterday after House Republican passed a Tax Reform Bill that would reduce corporate
    tax rates from 35% to 20%.
  • Nikkei 225, Kospi, and All Ordinaries opened higher this morning.
  • IDX is likely to continue strengthening after a successfull rebound yesterday. Resistance 6,095, Support 5,980.
BMRI

Sell on Strength

S2 S1 Level R1 R2
6,550 6,825 7,100 7,275 7,450

BMRI took a rebound turn with a long white candle after taking pressure in the last few days but with a close near its recent high that could potentially dampen the upside movement.

HMSP

Sell on Strength

S2 S1 Level R1 R2
3,990 4,110 4,030 4,360 4,455

HMSP still carried on the upside turn supported by a high enough volume. But, so a close near its strong horizontal resistance could push for a correction

MEDC

Trading buy

S2 S1 Level R1 R2
740 805 855 895 950

MEDC ended the session higher with a long white candle formation and a high enough volume indicating a further favorable opportunity.

WIKA

Speculative buy

S2 S1 Level R1 R2
1,855 1,950 1,970 2,070 2,180

WIKA closed the session down at its horizontal support with a thin volume that could potentially dampen the downswing.

* 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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