As we see that today's Jakarta Stock Exchange Index (^JKSE, IDX) rised so fast around 2% and it's quite amazing and maybe it's one of the highest gain in the world. Well, we can see that JKSE has just broken its resistance of all time high at 2838.48, yet it has just broken the uptrend channel resistance too at 2871. Macroeconomic of Indonesia showed that there are increment in economic stability that is expressed by the strong Rupiah (IDR) towards most currency in the world.
Technically, JKSE is still strong as most indicators showing buy signal as a symbol of strong trend. We can see that ADX itself is showing a great number / index that showed 46.3345 as a symbol of strong trend which is strong bullish.
Second part for today;s update is stock picks....
As my readers are waiting for some peeps for tomorrow...
Well, we see that today, Holcim Indonesia / Semen Cibinong (SMCB.JK) gapped up and forming white marubozu, yet it also crossed MA5, and EMA crossover is bending upward that showed it is strengthening, as well as the MACD is going to golden cross. In addition, it's forming a symetrical triangle that if the price strike upward above the line of triangle, then it's a good time to accumulate, but if it moved downward, we can collect at a lower price.
Rating: Buy On Weakness, Entry: 2050-2075, TP: 2200-2250
The other pick is Indofood Sukses Makmur (INDF.JK) which is quite strong in position and showing a reversal candle that showed the reversal trend of the previous trend which was turning down. As today the EMA Crossover is almost crossing upward & still moving upward, we can start to accumulate from now on to be the first to get a better profit.
Rating: Buy On Weakness, Entry: 3825-3875, TP: 4000-4200, SL: 3700-3725
Also we can watch on Telekomunikasi Indonesia (TLKM).
Some "Fried chips", we can see BHIT, PRAS. Remember, those "fried chips" are really VOLATILE & HIGH RISK!!! Cut loss if the end of the day you loss, remember to take profit once you earned!!!
Some ready to take profit ones, we can see below....
After having some gaining days, it seems that Adaro Energy (ADRO) is almost reached its peak. We can start to sell partially or even sell all to gain our profit. As we can see the volume is dropped & the bollinger bands has been crossed, as the pattern showed that the 4th candle crossing the upper band will show the reversal pattern.
Rating: Sell On Strength; TP: 2100-2200
The other one is Barito Pacific (BRPT), this stock is showing sell signals in most technical indicator, yet the candle today is Black Marubozu which showed a great bear is coming. We can avoid this stock for a moment or even try to allocate our money to other stock in a moment.
Happy Investing^^
Disclaimer ON!!!
