Daily Research 16 January 2018

S2 S1 IDX R1 R2
6,181.9 6,279.5 6,382.2 6,445.9 6,500.0
  • European market traded lower on profit taking while Dow Jones closed on Martin Luther King Day.
  • Regional market traded lower this morning due to lack of positive catalyst.
  • Rupiah appreciation and relatively high energy prices expected to support positive sentiment for IDX which closed near its recent high.
  • We expect IDX to trade mixed with lower tendency as investor tend to realize profits.
ADHI

Trading Buy

S2 S1 Level R1 R2
1,960 2,040 2,120 2,200 2,290

ADHI closed the session above recent high with increasing trading volume indicating another upside potential.

INCO

Sell on Strength

S2 S1 Level R1 R2
2,950 3,110 3,220 3,290 3,400

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

RALS

Sell on Strength

S2 S1 Level R1 R2
1,110 1,175 1,300 1,330 1,370

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

TLKM

Buy on Weakness

S2 S1 Level R1 R2
3,910 4,060 4,120 4,200 4,320

TLKM still carried on the downturn but with the presence of its horizontal support that could slow the 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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