As one of the most capitalized firm in Indonesia, ADRO has gained the public's trust where as this stock is in uptrend since 2008 crisis. As it broke its all-time high and this stock is quite shocking after some time of consolidation time, now it showed a bearish engulfing pattern which tried to broken its support at MA20 which has been tested for 3 times that it's proven to be its support.
Fundamentally, no doubt that this stock will rise soon, that company is expanding, production is increasing together with its world-class coal quality. Yet, a lot of foreign investors are interested in investing here.
Technically, it's uptrend but had been showed a bearish signal, which can be trusted or not. Well, you can see the chart....
Rating: Buy On Support, Buy at 1710-1720, Cut Loss at 3%, TP 1820-1850
Happy Investing^^
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