Daily Research 08 March 2018

S2 S1 IDX R1 R2
6,183.4 6,277.2 6,368.3 6,548.0 6,635.3
  • Dow Jones closed 82.8 point lower at 24,801 after traded lower of more than 300 points on early trading session. Recovery in market sentiment triggered by hints that White House may exempt Canada and Mexico from US new trade policy.
  • Regional market traded slightly positive this morning although clouded by negative sentiment of stronger US Dollar due to protectionism practice by the President and tendency of rising interest rates.
  • IDX break below neckline of double top pattern which may continue trade lower.
  • In all we expect IDX to trade mixed with negative tendency today.
BBRI

Hold

S2 S1 Level R1 R2
3,530 3,620 3,660 3,840 4,000

BBRI closed below its recent low near diagonal support. A further downside would remain possible if BBRI break its diagonal support may trigger price correction.

HMSP

Sell on Strength

S2 S1 Level R1 R2
4,110 4,350 4,510 4,650 4,820

HMSP ended the trading negatively after break below horizontal support with higher volume indicating further downturn.

KLBF

Speculative Buy

S2 S1 Level R1 R2
1,450 1,500 1,510 1,600 1,650

KLBF ended the trading negatively near horizontal support area with a thin volume and oversold RSI trend that could dampen a further downside movement.

UNTR

Sell on Strength

S2 S1 Level R1 R2
32,200 34,000 34,900 36,075 37,175

UNTR closed the session lower with a bearish engulfing formation suggesting a further downturn.

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