Daily Research 2 July 2018

S2 S1 IDX R1 R2
5,577.5 5,577.5 5,799.2 5,833.6 5,946.5
  • European and American market traded mixed last Friday with Dow Jones up only 0.1% at 24,283.1 as Nike shares rebound.
  • Crude oil price closed at high levels expected to support energy shares today.
  • Regional market traded mixed this morning.
  • IDX had technical rebound last Friday after BI lift benchmark rate by 50 basis points which followed by Rupiah appreciation. EIDO gained 2.9% last Friday and closed at 22.97.
  • We expect IDX to trade positive today as investor’s confidence rise.
ADRO

Speculative Buy

S2 S1 Level R1 R2
1,550 1,640 1,790 1,835 1,930

ADRO closed the session higher with long white candle pattern after on a weak trend in the last 5 days creating a technical rebound.

BBCA

Trading Buy

S2 S1 Level R1 R2
20,200 20,600 21,475 21,750 22,100

BBCA closed the session higher with bullish engulfing pattern and followed by high enough volume indicating another upside potential.

BBTN

Trading Buy

S2 S1 Level R1 R
2,200 2,370 2,450 2,550 2,700

BBTN moved higher after taking deep pressure in the last several days with a bullish harami pattern suggesting a rebound momentum.

UNVR

Trading Buy

S2 S1 Level R1 R2
43,450 44,450 46,100 47,100 48,245

UNVR managed an upside turn with a long white candle pattern and a high volume suggesting another favorable.

Advertisements

Daily Research 29 Juni 2018

S2 S1 IDX R1 R2
5,577.5 5,645.5 5,667.3 5,833.6 5,946.5
  • Dow Jones gained 0.4% and closed at 24,216 backed by rebound on tech and financial shares.
  • Regional market traded flat this morning due to lack of positive catalysts ahead of weekend.
  • Crude oil price rise above US$ 73 per barrel expected to support energy mining sector.
  • IDX break below recent low yesterday and confirmed “inverted flag” pattern with 5,500 level as correction target.
  • We expect IDX to trade lower today as foreign investor tend to avoid emerging market equities for a while.
BBNI

Buy on Weakness

S2 S1 Level R1 R2
6,250 6,575 6,800 7,150 7,500

BBNI ended the trading negatively near diagonal support with a thin volume suggesting a limited downside potential.

KLBF

Hold

S2 S1 Level R1 R2
1,100 1,130 1,155 1,270 1,310

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

SCMA

Hold

S2 S1 Level R1 R
1,850 1,950 2,030 2,220 2,360

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

SMGR

Speculative Buy

S2 S1 Level R1 R2
6,680 7,000 7,075 7,760 8,170

ICBP closed the session lower with bearish engulfing pattern indicating a further downturn.

Daily Research 28 Juni 2018

S2 S1 IDX R1 R2
5,664.5 5,780.9 5,787.5 5,946.5 6,068.3
  • Dow Jones closed 165 points lower (-0.7%) at 24,117.6 after 285 points rally on morning session as tech and financial sector lowered.
  • Crude oil price closed above US$ 72 per barrel as the US demand all countries to stop import of Iranian oil from November, this may support IDX’s energy related mining sector.
  • Regional market traded mixed with negative tendency this morning.
  • IDX traded lower yesterday, may test its recent low at 5,733. A break below may trigger further correction.
  • In all we expect IDX to trade mixed with negative tendency today as capital outflow continue.
ANTM

Hold

S2 S1 Level R1 R2
760 810 840 895 925

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

ASII

Sell

S2 S1 Level R1 R2
6,000 6,200 6,425 6,725 6,950

ASII took a deep downturn and a break horizontal support indicating a further downtrend.

BBTN

Buy on Weakness

S2 S1 Level R1 R
2,240 2,440 2,520 2,700 2,890

BBTN ended the trading negatively near diagonal support with a thin volume and oversold RSI trend in area oversold suggesting a limited downside potential.

ICBP

Sell on Strength

S2 S1 Level R1 R2
8,300 8,425 8,575 8,875 9,100

ICBP closed the session lower with bearish engulfing pattern indicating a further downturn.

Daily Research 27 Juni 2018

S2 S1 IDX R1 R2
5,664.5 5,780.9 5,825.6 5,946.5 6,068.3
  • European and American market traded mixed as the market digest global trade issues. Dow Jones gained 0.1% at 24,283.1 as General Electric shares rebound.
  • Regional market traded sideways today.
  • Crude oil price rise above US$ 70 per barrel backed by strong global demand.
  • IDX’s candlestick formed shooting star pattern near recent low level at 5,821. A break below would trigger further price correction.
  • We expect IDX to trade lower today as investor tend to wait and see further development of global trade issue and results of regional election today.
ASII

Trading Buy

S2 S1 Level R1 R2
6,250 6,525 6,700 6,950 7,225

ASII ended the session higher with a bullish engulfing suggesting a favorable potential.

CPIN

Sell on Strength

S2 S1 Level R1 R2
3,460 3,580 3,720 3,840 3,950

CPIN closed the session higher near resistance with a thin volume that could limit the upswing.

ITMG

Buy on Weakness

S2 S1 Level R1 R
21,175 22,350 22,775 24,100 25,525

ITMG remain in the weak side during a few days in a row. A weak potential would carry on its recent low and support are broken down.

KRAS

Trading Buy

S2 S1 Level R1 R2
426 448 500 525 550

KRAS closed the session higher after break above diagonal resistance with higher volume indicating another upside potential.

Daily Research 26 Juni 2018

S2 S1 IDX R1 R2
5,664.5 5,780.9 5,859.1 5,946.5 6,068.3
  • European market traded sharply lower with DAX down 2.5%, FTSE down 2.2%, and CAC down 1.9% on fear of global trade war.
  • Dow Jones down 1.3% at 24,252.8 as China and Europe plan working group to revamp WTO and counter US protectionism.
  • Regional market traded lower with Nikkei down 1%, Kospi down 0.8%, and AORD down 0.7%.
  • IDX on a technical rebound on speculative buy ahead of potential window dressing action at the end of the month although foreign investors keep selling Indonesian equities.
  • In all we expect IDX to trade lower as investor tend to wait and see result of 27 June regional election.
AKRA

Trading Buy

S2 S1 Level R1 R2
3,700 4,000 4,280 4,510 4,800

AKRA closed the trading higher with a strong volume after on a weak trend in the last 8 days creating a technical rebound.

ERAA

Sell on Strength

S2 S1 Level R1 R2
2,350 2,600 2,850 3,070 3,150

ERAA was in the negative side with a dark cloud cover formation indicating another downside potential.

GGRM

Trading Buy

S2 S1 Level R1 R
65,000 68,125 71,750 74,500 77,500

GGRM ended the session higher with a long white candle and a strong volume suggesting a favorable upside potential.

TINS

Buy on Weakness

S2 S1 Level R1 R2
775 835 860 930 985

TINS ended the trading negatively near diagonal support with a thin volume suggesting a limited downside potential.

Daily Research 25 Juni 2018

S2 S1 IDX R1 R2
5,664.5 5,780.9 5,821.8 5,946.5 6,068.3
  • Dow Jones gained 0.5% last Friday to 24,580.9 backed by Chevron and Exxon Mobil shares on rising crude oil price despite agreement from OPEC meeting to lift production to satisfy increasing global demand.
  • Regional market traded mixed this morning.
  • IDX’s candlestick formed doji pattern last Friday as investor tend to switch from equities.
  • In all we expect IDX to trade mixed with negative tendency as foreign investor keep selling Indonesian equities ahead of the implementation of US trade policy on early July.
BDMN

Sell on Strength

S2 S1 Level R1 R2
5,900 6,225 6,400 6,575 6,825

BDMN closed the session higher with long white candle pattern but with a thin volume and near its horizontal resistance that could limit the upswing.

CTRA

Trading Buy

S2 S1 Level R1 R2
950 1,010 1,100 1,135 1,195

CTRA closed the session higher with long white candle pattern with high enough volume indicating another upside potential.

KLBF

Trading Buy

S2 S1 Level R1 R
1,200 1,250 1,310 1,370 1,415

KLBF closed the trading higher after on weak trend in the several days creating a technical rebound.

MEDC

Hold

S2 S1 Level R1 R2
900 965 990 1,065 1,125

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

Daily Research 22 Juni 2018

S2 S1 IDX R1 R2
5,664.5 5,780.9 5,822.3 5,946.5 6,068.3
  • Dow Jones closed 0.8% lower at 24,461.7 as Boeing and Caterpillar shares dropped as investors tend to avoid companies which negatively affected by global trade war.
  • Regional market traded lower with Nikkei down 1%, Kospi down 0.5%, and AORD down 0.1% this morning.
  • IDX continue lower to test recent low level at 5,733 last May.
  • We expect IDX to trade lower today ahead of weekend as foreign investor keep selling Indonesian equities.
ASII

Sell on Strength

S2 S1 Level R1 R2
6,250 6,525 6,675 7,100 7,300

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

BMTR

Sell on Strength

S2 S1 Level R1 R2
520 545 570 585 600

BMTR managed a rather positive followed volume but the presence of a horizontal resistance that could limit the current upswing

KRAS

Trading Buy

S2 S1 Level R1 R
395 434 488 505 535

KRAS closed the session higher with long white candle pattern and break above diagonal resistance with high enough volume indicating another upside potential.

SIDO

Speculative Buy

S2 S1 Level R1 R2
830 875 910 975 1,000

SIDO ended the trading negatively with higher volume after failed to break above diagonal resistance indicating a further downturn.