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.
Disclaimer On
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...
I try to show the effect of Russia - Ukraine War for Indonesia Stocks.
There are 4 column consist of :
1. Mineral Stocks
2. CPO Stocks
3. Coal Stocks
4. JCI vs EIDO vs MSCI Asia ex Japan vs MSCI Emerging Market
Maybe the war bring negative news to other market but not for certain sector in Indonesia stocks market.
I try to analize using Elliot Wave perspective, and it seems like the bull trend is almost over..
YES, it could be reach to the psychological level of 7000 or maybe more 7200-7300, but for now the risk is greater than the reward..
The correction to 5000 ish level or lower can happen anytime..
We are in the end of wave 5 of 5..
And if we take a look into the...
It seems IHSG is riding on a channel for the last 17 years+, whenever it reached a new high in Fib Channel it went down to test the channel bottom, or in 2 extreme cases exited the channel, (we can consider them black swan events). Now our current situation the Global sentiments are negative are driven by the Fed interest rate hike, Russia conflict, and China's...
Bullish run projection in Q1 2022 for IDX after a failed window dressing in December 2021.
DISCLAIMER ON
This analysis is not financial advice. Please note that you are responsible for your own investments. This chart only represents my opinion and view about the stock market in general and may be used only for educational purposes.
Despite the fact that it had regular bearish divergence which usually suggest the reversal of a trend, IHSG at around area 65xx still hold strongly. As a result, IHSG now moving sideways at an area of FIB 0% and FIB 23%. This suggest that, below FIB 23% IHSG will turn bad while above FIB 0% will be good.
Also, HEIKEN ASHI which supposed to filter out the...
This is my wave analysis for IDX COMPOSITE, as I mentioned before IDX COMPOSITE have a potential bearish from weekly chart for next 3 three month. Correction most likely will happen in Mid January. This is the detail from 1H timeframe
One more up swing in the current primary cycle. The green scenario is ABCDE or correction pattern, that tends to be shallow but takes longer time to complete. On the other hand the red scenario is ABC or WXY correction pattern, these patterns tend to be sharp but shorter than triangle pattern. Invalidation point of this bullish analysis if IDX < 6134.8818. The...
