Daily Research 21 November 2017

S2 S1 IDX R1 R2
5,988.2 6,044.3 6,053.3 6,100 6,130
  • US and European stock indexes rebounded yesterday, despite political uncertainty in Germany where Chancellor Angela Merkel has just failed to gain support from other parties to form a strong coalition.
  • Next week’s OPEC meeting can determine the direction of oil price movements.
  • Nikkei 225, Kospi, and All Ordinaries indexes opened up this morning.
  • JCI is likely to rebound today after forming shooting star pattern in the last 2 days. Support 5,990 and resistance 6,110.
ACES

Buy on Weakness

S2 S1 Level R1 R2
1,100 1,160 1,200 1,245 1,300

ACES ended the trading negatively near its diagonal support and with a thin volume suggesting a limited downside potential.

AKRA

Buy on Weakness

S2 S1 Level R1 R2
6,275 6,525 6,675 7,000 7,350

AKRA continued the weak turn with presences of several supports that could slow down the current downswing.

MEDC

Hold

S2 S1 Level R1 R2
800 855 905 920 965

MEDC ended the trading positive in horizontal resistance area with increasing trading volume. A break recent high may send MEDC higher to test resistance level.

SMRA

Hold

S2 S1 Level R1 R2
800 850 870 940 1,000

SMRA closed below its recent low. A further downside would remain possible if SMRA break its long term diagonal support may trigger price correction.

* 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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