Daily Research 20 December 2017

S2 S1 IDX R1 R2
6,021.1 6,064.6 6,167.7 6,200.0 6,250.0
  • US stocks move lower after the delayed approval of the Tax Reform Bill due to procedural problems. However, follow-up voting is scheduled as soon as possible tonight.
  • Nikkei 225, Kospi and All Ordinaries opened lower this morning.
  • Significant gains in recent days have made the IHSG stochastic overbought. Be aware of correction though momentum is still positive. Support 6,105 and
    resistance 6,230.
ADRO

Trading Buy

S2 S1 Level R1 R2
1,710 1,775 1,835 1,900 1,955

ADRO ended trading positively with bullish engulfing pattern and followed by higher volume indicating another upside potential.

INTP

Buy on Weakness

S2 S1 Level R1 R2
18,425 19,150 20,025 21,175 22,175

INTP moved down with a full black candle formation and was closed near its horizontal support that could limit the downswing.

PTBA

Trading Buy

S2 S1 Level R1 R2
2,155 2,285 2,460 2,535 2,640

PTBA moved in the positive side with a long white candle with a high volume indicating another positive movement.

SMBR

Sell on Strength

S2 S1 Level R1 R2
2,820 3,020 3,300 3,400 3,580

SMBR closed the session higher near its horizontal resistance area with a thin volume and overbought RSI trend that could limit the upswing.

* 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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