Today, tradings are so shocking yet amazing.... After hours thrilling us with worry,finally we are calmed by the sudden rebound of global market, whereas the US market suddenly rallied from its bottom below 10000, to above 10000.
Hence, the outlook hasn't been a bullish market, as we can see till this blog is posted, the average US market hasn't rallied, why I can say that averagely, we can see the S&P500 Index that is more representing the economy of US is still running at 0 territory, which doesn't show any strong movement.
Technically, the chart tends to move sideways, this is caused by the market hasn't looked at the market as a 'bull' market, but doubt fully filling the market.
The market isn't strong yet, but still Indonesian market isn't suggested yet, as today there's a rumor that investor is reallocating their money to bonds, as bonds aren't charged by taxes.
Back to our country, we can see that the fundamental / macro economic information is not really flow nowadays. Still the hottest issue is the European crisis.
Technically, we can see that today JKSE showed a really big top reversal, and this can continue as some technical indicators failed to golden crossed.
The next question from you, what's the target???!!!
Rating: Hold, TP: A: 2577-2592, B: 2410-2430, C: 2300-2330
If target A accomplished & bounced, then the wave 1 (FINISHING WAVE) failed, but if the A was penetrated, a full bull might take position & continue to B & if penetrated again with volume, C will be the next target of accomplishment. Hence additional, a GREAT BEAR if the C is penetrated, next target will be around 2200-2227.
Stock list to be watched will be posted in a moment...
Happy Investing^^
Disclaimer ON!!!
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