Market Update (May 18, 2017)


(OpisBoi‘s Technocopter) The Indonesian Benchmark Index was down for more than a half percent (-0.56%) ends at 5,615.49 pts and rested below its uptrend resistance at 5,645, as the Misc-Industry, Mining, Property sectors sagged by -2.27%, -1.38%, -1.21% respectively.

There were 204 shares weakened, outnumbered the 139 advance stocks and the other 108 stocks remain unchanged. About 75,383,295.00 shares traded, where foreign investors booked a total net sold around IDR202.16bn across the board. Selling-tension continues, where as in the same time, most of the heavy weight stocks were pointed lower through all that day.

There is only one more red candle to make the Matching Low Candle a Three Star In The South Formation, and round to set a technical reversal for the next trading day. Hence, The OpisBoi re-iterate his BuyOnWeakness call, base on the 4.88% oversold stochastic where the selling pressure should have been limited on the JCI’s short-term trading horizon.

JCI expected to walk around 5,575 – 5,635 pts, you might need to draw your stop loss level at 5,540 pts and the cut loss level at 5,490 pts.

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); HMSP ADHI WIKA WSKT PTPP TBIG INDY SMBR BBTN; Watch for the last stop support on these stocks (BuyOnWeakness); BBCA ASII TLKM UNTR ADRO PTBA ITMG HRUMForeign Investors eyed on some of these stocks; BSDE KIJA SMSM AUTO(OnScreen); BUMI BWPT BRMS PWON CTRA SMRA;

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