throughout its movement, the JCI has been positive by moving away from support at 6752, closing also well at the 6800 level. today JCI will test resistance 6858 to 6911 with support at 6752 and 6683.
the market has left the support range 6509 - 6752, after the crash from the fall of GOTO, which impacted to several stocks, both bigcaps stocks to second tier stocks.
Disclaimer on,
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
For 6 months ( 13 May '22 - 06 Dec '22 ), the Composite Index moves in a huge sideways and forming the Bearish Pattern Flag, finally it decide one way to be chosen.
Unfortunately , its choice is to go down which is confirmed by broke the lower...
Composite Index is still moving sideways but it has potential to continue upward direction.
ID10Y or Bond also is breaking out the down trendline which mean the yield is continuing upward direction too.
Composite is Bullish, ID10Y is Bearish.
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.
DYOR
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...
