CT Stock Watch May 10, 2010

After news from Europe was posted very well & as hoped, the market started to recovered back, as our index was increased by 4.1%, and it increased the optimism of market.

As now DJIA (Dow Jones Industrial Average) is +3%, we change our counter to Buy On Weakness.

Technically, our index is forming a symmetrical triangle with the target level at 3000-3025, so if the condition maintain well, we are very optimistic to have that target.

Rating: Buy On Weakness; TP: 3000-3025

Stock picks:

1. Astra International (ASII.JK, ASII:IJ)

After decreased for days, ASII become the top picks for becoming the market mover for tomorrow, as there are a lot of gaps to be closed above the candle that will be closed start from tomorrow as the condition become re-BULLISH after it broken back the SMA60 as the mid-term line.

Rating: Buy On Weakness; TP: 43300-43400, 45000-45500, SL: 42250-42350

2. International Nickel (INCO.JK, INCO:IJ)

After wasn't supported by their sales, finally this stock awaken from the sleep. This stock is showing its power again to show its strength. Now, it has formed a very strong fundamental with increment of Net income 1Q2010 increased by >300% YoY.

Technically, the charts are showing golden crosses, so we can start to accumulate.

Rating: Buy On Weakness; TP: 4775-4825, SL: 4450-4475

3. Bank Tabungan Negara (BBTN.JK, BBTN:IJ)

After having a very strong power of bull, BBTN seems to finish its consolidation & the bottom reversal seems to have happened.

Rating: Buy On Weakness; TP: 1560-1600, SL: 1370-1380

Happy Investing^^

Disclaimer ON!!!

Rebounds

Well, there's still no certainty for our stock exchange in the short time...

Meanwhile, we're expecting for technical rebounds...

While, the rebound analysis will be given tomorrow...

Happy Investing^^
Disclaimer ON!!!

CT Watch List (May 7, 2010)

After today the mid-day traded lower, today it suddenly recovered a bit, and some stocks especially blue-chips may be our consideration for tomorrow's trading (One Day Trade-ODT).

Gudang Garam (GGRM)

One of the defensive stock that didn;t go down today even market crash quite badly. Well, it formed a ascending triangle which candle is along the trend line.

Rating: Buy; TP: 28550-22700

Kalbe Farma (KLBF)

Can be one of the alternative for trading especially one-point trade to 2000s. SL: 1850-1890

Adaro Energy (ADRO)

The other alternative for trading. SL: 1960-1980

Happy Investing^^

Disclaimer ON!!!

What a pity index....

As we see that today our index of Indonesian Stock Exchange continued its loss by 35 pts. Well, we can see that since the chart has created 4-black candles in a row, and the end of the day, the index recovered a bit and closed a bit higher than at the mid-day. This indicated the market is stopping their profit taking actions & cutting losses actions. This is because of some "marginner" has been forced sell yesterday & today, so that the continuation of the droppings, will be postponed a while.

Since the stock exchange was 'bombarded', the US$-IDR increased with the weakened dollar as foreign investor are realizing their profit & loss. Looking at the increment of the currency, investor is selling their stocks one by one & invest in US$ for a moment, yet the "World-Cup" phenomenon is one of the sentiment of their actions. As some of them might gamble in the matches, well, the other factor that cause the stocks go down in the "World-Cup" is the in-efficiency of working happen inside firms, in which people work & watch the World Cup together, so that they won't be able to work effectively & efficiently.

Technically, there are no indicators that showing buy signal but William's%R indicator, which showed a buy signal for today. Well, base on the theory of candle that after several days of black, there might be a day of white, and tomorrow might be the day, because usually 3-4 days black will be followed by a white. The other theory that support will  rebound, is the MA theory in which the JKSE has a strong support at MA45, which index closed just at the EMA. We can see that based on the Keltner Bands that once the candle crossed downward to the bands, then the next day might be a rebound. Since, the economic is still not so good, the upward force will not be as big as what we want.

Rating: Sell On Strength; TP: 2830-2850

Happy Investing^^
Disclaimer ON!!!

Long time no update, now my computer is working again. You all can get extra info from me now. Today, we can see that today JKSE moved really wild, and can be said as too wild. Based on the Elliot wave theory the stock is now moving downward, as the bottom of the "wave 3" is broken now,so the wave become vice-versa, now we are in a down wave-1. The target is 2831, and tomorrow might be a little droppings, with a technical correction at the following day.

But unfortunately, that the technical shows a very bad indications, which showed a no-good-at-all indications of "BEAR MARKET". We can see that EMA4-EMA13, has dead-crossed, then the MA5 is crossed downward, which is a sell signal, EMA5-15 almost dead crossed, W%R slide down to oversold area, While Stochastic is still at overbought area.

Seems, the bubble has just splashed, and index will be corrected quite deep in this few days to weeks. The bad sentiment of downgrading ratings of European country, the issue of the other crisis is coming from Europe & China. The resign of our Minister of Finance, Sri Mulyani Indrawati, is one of the eeffect, as people feel fit to her, as well as investors, which created a fit point between markets & civilians. So, the government must find a Minister with the capability to 'fit' both position who can stabilize the economy just like SMI.

 See the charts below of indicators...

Happy Investing^^

Disclaimer ON!!!