Daily Research 05 February 2018

S2 S1 IDX R1 R2
6,444.5 6,538.0 6,628.8 6,680.6 6,750.0
  • Dow Jones closed 2.5% lower at 25,521 last Friday with  EIDO down 1.2% at 29.18. Global market concerned about rising developed market bond yield after release of strong US labor data.
  • Regional market traded lower this morning with Australia market down 1.4%, Nikkei225 down 2%, and Kospi down 1.6%.
  • US Dollar Index rebound and closed above 89 last Friday triggers Rupiah depreciation and correction in crude oil price, each traded around Rp 13,448 per US$ and US$ 64.8 per barrel this morning.
  • We expect IDX to trade lower today.

Trading Buy

S2 S1 Level R1 R2
2,230 2,310 2,470 2,500 2,600

ADRO closed the session higher with bullish engulfing  pattern and higher volume indicating another upside potential.


Sell on Strength

S2 S1 Level R1 R2
2,350 2,500 2,600 2,710 2,850

BRPT took a weak turn a high enough volume after unable to break its resistance yesterday so that could lead to a further downturn.


Sell on Strength

S2 S1 Level R1 R2
26,550 28,000 29,600 30,800 32,400

ITMG ended the trading weaker with a bearish engulfing formation providing another downside sign.


Buy on Weakness

S2 S1 Level R1 R2
1,620 1,655 1,660 1,745 1,775

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

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