I separate Big Caps stocks of JCI into 3 categories : Big Bank (BBCA, BBRI, BMRI and BBNI), Others (ASII and TLKM) and Consumer (INDF, ICBP and UNVR).
During 2022, the graphs is showing that Consumer stocks behave as Defensive Stocks that holds JCI during the bad time while Big Bank and Others lead JCI.
Recent rally of JCI shows that Big Bank and Others (once...
IHSG after set high record in 7354.08, got corrections by breaking ascending wedge pattern from 7246 and hit the TARGET 1 to 6596 (5% from body ascending wedge).
After that, breaking down the ascending channel and found support at 6511 (wave A), rebound to support that flip as resistance at 6957 (wave B). if we break support 6860, then probability the drop will...
Technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume.
I monitor the big caps stocks that very much become the core of Composite.
The stocks are : BBCA, BBRI, BMRI, BBNI, ASII, TLKM, INDF, ICBP and TLKM.
I excluded GOTO because it has no enough previous movement.
I didn't include HMSP and GGRM because of their low Free Market Weighted.
Banking Stock near its Support while ASII+TLKM is has room to fall before...
The inflation situation right now impacted to Indonesia Stock Market, yet I think JKSE will eventually moving to a bear trend.
My personal view using elliott wave, JKSE will reach the area of 6050 - 6236 sooner or later.
The Composite Stock Price Index is one of the stock market indexes used by the Indonesia Stock Exchange. we know now inflation in US already rise and is will be very bad news for any stock exchange, the US and FED will increse the cash rate, so its will be affect to the composite Indonesia. Indonesia Composite already hit all time high in this year after the covid...
There is a gap in 7200 that must be closed. However, today IHSG bump into that level and go down again. With upcoming BI Rate accouncement that would be resulted in increasing saving rate, I believe IHSG will have to go down until 6100-6200 before rising up to new ATH!
IHSG for the next 1 year, based on chart pattern analysis.
1. Macro resistance breakout at 6600 in October 2021, resistance area turns into support.
2. Retesting macro support area in May 2022.
3. Form a bullish channel pattern, with 2% support tolerance.
Technically if the price goes down then it will not be less than 6600.
Bullish target up to 7350-8000....
IHSG will have an ABC Correction after the 5 impulsive movement done (eliot wave theory). So hold up and keep money FRESH and Buy the stocks (bluechip) when the IHSG doing the ABC correction.
Maybe Arround 6700 we can SLOWLY buy our value stocks. For me the Banking Sector is the best choice like BBRI BBCA BBNI BMRI.
long-legged doji on the weekly time frame on the top indicated trend reversal with the macroeconomy doesn't feel good at the moment. I am super bearish with the Indonesia stock market right now..
better to take profit and stay away from the stock market at the moment.
Here is shown the return of many IDX Indexes since 2022.
My favorite is IDX80.
Other IDX Indexes that should be in the spotlight are IDX30, IDXG30, IDXV30, and IDXQ30.
Interesting to see that IDXG30 and IDXV30 are outperformed IDXQ30. This shows that Investors prefer Growth Stocks (and Value Stocks) over Quality Stocks.
During conditions that are good for...