Bullish Bias on IHSGIDX Composite (IHSG) seems to continue it's bullish rally as descending broadening wedge pattern appear with bullish divergence as a momentum. This analysis can be your consideration as your trade decision to buy on weakness on certain stock that highly correlated possitively with this market
Ihsg
WHY I BOUGHT ASII RECENTLYASII
Well, this is my first time writing my opinion or just simply my analysis upon a stock that caught my eyes recently.
So, I guess my writing would be hard to understand or something, please be kind :)
ASTRA INTERNATIONAL TBK (ASII)
I was interested in this stock since 4th October 2021 when it broke the 5550 price mark. With that, I suppose the downtrend of this stock was already done and I saw that this stock will have a new strong uptrend, since IHSG (COMP) was starting to have a higher highs and broke all the supports it had.
When the index was in the strong bullish momentum, I checked most of Indonesian's blue-chip stocks, including ASII, and they also had a strong bullish chart.
Now, go back to ASII.
Initially I was hoping that ASII would be drawn back to 5550 price mark (that was my buying area (5300 - 5550) and I would buy it as soon as it has a reversal pattern (green doji, hammer, or anything u can name of a reversal candle pattern). But well the market said otherwise and long story short, it flew to 6450.
But on 22nd October I saw that this stock was having a retracement that will soon end, and I was hoping it would be drawn back to 5900 - 6100 price mark (that was my new buying area). SO IT WAS DRAWN BACK !!
on 28th October, like I said before, the GREEN DOJI appeared!
I had an entry plan for that, which was waiting the stock to break the DOJI HIGH (6175) and put the "buy limit" at 6100 (my buying area).
On the 29th October it really flew beyond the 6175 price mark, so I placed the buy limit at 6100, and I let the price do the magic (since I was having a holiday in Bali) so I couldnt actually watching the stock 24/7.
Long story short, I got the stock at 6025!!
Now it slowly regaining its power to get back on the UPTREND.
Well, that was my story on how and why I get into the ASII stock.
Im sorry for lacking experience of writing this kind of thing. I hope you understand.
Thank you for your time.
Just contact me if you need to ask some questions about this and that, I am willing to help you as best as I could.
ISSP , Is this the end of its bullish cycle?The recent All Time High (ATH) just hit the 1.618, and then followed by bearish engulfing. Additionally, there is a potential ending diagonal pattern. TP 2 & TP3 are for overextended scenarios which is low probability if we're considering the current market condition. If ISSP can break out from 394, we can expect potential upside target around 436 - 526. ISSP technical chart represents neutral with caution market condition.
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.
UNVR, ARE WE OUT OF THE WOODS?While IHSG (Indonesian stock exchange) has been on a major bull run since March 2020, and yet we witnessed a huge weakness on UNVR that seems like a never-ending downtrend. But in September 2021, UNVR has shown some strength in the market. Are we out of the woods yet? We certainly don't know, but we can speculate based on the recent impulsive move to the upside. As long as we do not break 3800. UNVR has a potential of around 41 - 75% for mid-term stock holding.
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.
SMGR TO THE MOON! UPSIDE UPTO 50%! DOUBE BOTTOM POTENTIAL ALERT!3T6 MONTH SWING TRADE SMGR!
BUY IF BREAK AND CLOSE ABOVE 8500!
SUPPORT = 7675 and CL IF CLOSE <7675!
SMGR or PT Semen Indonesia Tbk, commonly known as Semen Indonesia Group, is an Indonesian cement company established in 1957 in Gresik, with the name NV Semen Gresik. In 1991, PT Semen Gresik was the first state-owned company to go public on the Indonesia Stock Exchange.
As a governent company, I think investor and swing trader should consider SMGR. Because, the risk and rewards are so good enough. If you see the volume distribution that happened on last year 2020 (I already circled the volume bar), I think this year is same.
And now, maybe there are many people ask me about their cost operation. The way of coal upside maybe increase their cost because the cost of cement 35% is made by coal. But, you should consider that SMGR have their own coal mining, which is, SMGR already prepare for the worst of expensive coal. And also, SMGR not only use coal for their production. They also use new renewable energy called BIOMASSA.
So, what do you afraid of? The risk is very minimum maybe 3-5% to the bottom, but the upside for the government company is very good upto 50%! REMEMBER THAT THIS IS GOVERNMENT COMPANY!!! THE GOVERNMENT WONT STAY QUIET FOR THIS COMPANY! THE BIGGEST CEMENT FACTORY IN INDONESIA!
GBU AND HAPPY WEEKEND!
Bullish Bias on HRUMOne of the biggest energy company listed on JKSE seems rally since their accumulation breakout for not so later. Buy on weakness should be your consideration as 9400 would be a sweetspot target of the invesment. You can stop your position if the price goes down to 6300 and close below it to seek a new entry on the lower demand area
Bullish Bias on MPPAStrong market rally would come near future after it made despair as inverted HnS appear exactly at demand level. Buy on break should be your consideration or patiently wait till the market create a pullback. Bear in mind that 880 would be an invalidation value if the price goes down and close below it
Bullish Bias on IDXJKSE would still maintain their bullish bias as a bullish flag pattern appear 'till it hit the objective target as AB = CD pattern. Buy on break should be your consideration or just try to seek an inside bar to entry. Invalidation start if only the price goes down and close below 579x
SMBR Breakout Falling Wedge - IHSGPrice has closed above the falling wedge upper resistance. Putting a trading plan in motion.
Disclaimer: This content is intended to be used and must be used for information and education purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. Accordingly, the writer will not be liable in respect of any damage, expense, or other loss you may suffer arising out of such information or any reliance you may place upon such information.
Bullish Bias on JSMRIndonesia's owned state company that operate majority of national toll road infrastructure seems to make a continuation rally after made a trend reversal with it's double bottom and their price correction as descending broadening wedge appear. Buy on weakness should be your consideration or try to seek an inside bar to entry with 4990 as it's sweet spot target. Bullish invalidation start if the price goes down and close below 3600