Daily Research 12 February 2018

S2 S1 IDX R1 R2
6,277.2 6,375.0 6,476.5 6,589.7 6,666.8
  • Dow Jones closed 1.4% higher at 24,190.9 last Friday with candlestick formed hammer pattern. EIDO climbed 2.4% higher at 28.57. Regional market traded sideways this morning.
  • US Dollar Index rebound triggered weakness in global energy prices such as crude oil and coal.
  • While IDX may get a technical rebound today, Rupiah depreciation and lower commodity prices may cap positive momentum.
  • In all we expect IDX to trade mixed ahead of MSCI Quarterly Index Review announcement tonight.
BMRI

Sell on Strength

S2 S1 Level R1 R2
7,700 7,975 8,225 8,300 8,500

BMRI was still in the positive side but with a close near its recent high that could limit the upside movement.

ELSA

Hold

S2 S1 Level R1 R2
348 372 394 426 458

ELSA ended the trading negatively with a thin volume and a presence of diagonal support hat could dampen a further downside movement

ERAA

Sell on Strength

S2 S1 Level R1 R2
790 825 850 870 910

ERAA took an upside turn near its diagonal resistance with a high enough volume that could limit the upswing

MEDC

Hold

S2 S1 Level R1 R2
1,025 1,095 1,120 1,240 1,315

MEDC closed the session lower with a thin volume and a presence of diagonal support that could dampen a further downside movement

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