Daily Research 02 February 2018

S2 S1 IDX R1 R2
6,444.5 6,538.0 6,598.5 6,680.6 6,750.0
  • Dow Jones closed 37.3 point higher at 26,186.7 while EIDO slipped 0.9% at 29.53 backed by concerns of potential rate hike triggered by rising US Government bond yield.
  • US Dollar Index closed below 89 trigger higher crude oil price which traded above US$ 66 per barrel this morning.
  • Regional market traded mixed this morning ahead of weekend.
  • IDX’s candlestick formed dark cloud cover which may lead to a price correction
  • With continuation of foreign net sell we expect IDX to trade lower today.
AKRA

Sell

S2 S1 Level R1 R2
5,450 5,700 6,000 6,250 6,450

AKRA moved negatively with a long black candle followed by a high volume and also break on its horizontal support suggesting a further downside potential.

BEST

Trading Buy

S2 S1 Level R1 R2
284 296 316 328 336

BEST closed the session higher with long white candle  pattern after break above resistance line with high enough volume indicating another upside potential.

BSDE

Sell on Strength

S2 S1 Level R1 R2
1,770 1,825 1,875 1,905 2,000

BSDE closed the session higher with a high volume but with a close near its horizontal resistance that could slow down the upswing.

ERAA

Sell on Strength

S2 S1 Level R1 R2
780 815 850 880 910

ERAA closed the session higher near its recent high 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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