Until this time, the whole market is running very well, as we can see the most consumptive country is now increasing their production, as our export will increase as the symbol of recovery of economy, 2 days ago, it's the 1st time since Dec 2008, Dow Industrial Average touched & ended above 11000 pts.
Then in conclusion, market is BULLISH!!!!
Let's see technical analysis for our JKSE (Jakarta Stock Exchange)....
We can see that yesterday, JKSE showed a "Hanging Man" candle which is shown by the tail is >2 times of the body, and it happened at uptrending, which is a disaster if the hanging man was confirmed this afternoon. Fortunately, market said differently, that today it showed another reversal pattern that might reverse the market perception by a doji star.
For stock picks, we can pick ELSA & BMRI.
ELSA closed at the short term support.
Rating: Buy On Weakness, TP: 650-660, SL: 560-570
BMRI has just got the EMA crossover, we can keep watching it first. As market is in bullish mode, & it's in symmetrical triangle pattern. We can buy & accumulate, if break 5400, average up is a smart way.
Rating: Spec Buy, TP: 5350-5450, SL: 5000-5100
Happy Investing^^
Disclaimer ON!!!
