Daily Research 08 February 2018

S2 S1 IDX R1 R2
6,277.2 6,375.0 6,534.9 6,589.7 6,666.8
  • Dow Jones closed 0.1% lower as investor see potential US rate hike. US 10 year Government bond yield rise above 2.8% triggered US Dollar Index increase which stood above 90 level this morning.
  • US Dollar Index increase trigger correction on commodity prices as crude oil slipped below US$ 62 per barrel this morning.
  • IDX’s candlestick formed inverted hammer pattern which indicate another down sessions today.
  • We expect IDX to trade lower today.
    CPIN                                                                            Speculative Buy
    S2 S1 Level R1 R2
    3,000 3,100 3,290 3,370 3,490

    CPIN closed the session higher and break above diagonal resistance after on a weak trend in the last seven days creating a technical rebound.

    INDF                                                                            Sell on Strength
    S2 S1 Level R1 R2
    7,600 7,800 7,925 8,075 8,250

    INDF was in the positive side but with a close near its horizontal resistance that could limit upswing.

    SCMA                                                                            Sell on Strength
    S2 S1 Level R1 R2
    2,510 2,630 2,800 2,900 3,000

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

    UNTR                                                                            Sell on Strength
    S2 S1 Level R1 R2
    35,400 37,200 38,500 40,425 42,000

    UNTR was in the positive side but with a close near its previous high in which could dampen a further up movement.

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