My longterm view of Jakarta Composite Index (IHSG) is BEARISH.. Based on Elliot Wave perspective, i could see the Composite Index now running on its end of wave 5. It made a huge and wide consolidation around 7k to 7.3k and most likely the consolidation will break and lead to bear season.
I recommend to SELL ON STRENGTH at this time, cause the highest chance for the next trend is bearish trend.
TARGET???
1st: 6500
2nd: 5500
possibly lower than 5000!
Stay alert!!
JKSE
SRTG: Confirm Breakout with semi Accumulation and big Volume.PT Saratoga Investama Sedaya Tbk IDX:SRTG is a company engaged in the investment sector. The company invests in three sectors; consumers, infrastructure, and natural resources.
From my view based on MA200 Breakout, Market Maker Accumulation, Big Volume. It indicates that IDX:SRTG would be on an uptrend channel and trying to break the next resist at price 2950 (Fibonacci 66%). I recommend buying IDX:SRTG for the target price 1 (TP1) at 2950, and TP2 at 3400. Stop Loss if the price didn't break MA200. Thanks.
Disclaimer ON
IHSG bull trend is almost end!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 fundamental event, it almost match perfectly, The Fed is going to increase the rate soon...
So.. Please tighten your seat belt
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
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
Bullish Bias on BRISA mega merger Indonesia's owned state company seems to continue their bullish run after made a corrective movement that stopped with the double bottom formation exactly at fibo internal retracement zone from their primary bullish trend (A to B). 4000 would be a sweet spot as the target price of this market. Buy on weakness should be your consideration as long as the price not to going down and close below 1600 as it's invalidation value
Bullish Bias on BBRIAs wee see that this market formed a huge falling wedge as an indication of big accumulation with several bullish momentum confluence as writen on the price chart, this market would meet it's price target at 4720. Buy on weakness should be your consideration. Invalidation start if the price goes down and close below 3370
Bearish Bias on MDKAThe gold and copper company would still weakening since the HnS pattern appear to break it's bullish trendline with multiple bearish divergence. 2000 would be a sweet spot target of this market. Sell short should be your consideration if trade on cfd market and patient to wait to start accumulation on price target (demand level) as you trade on a spot market. Invalidation start if the price close on above 2900 and get back to the bullish trendline again
Bullish Bias on INDFI got an idea of this market since we could see a long accumulation based on falling wedge pattern and others confluence that we have. 6700 would be a sweet spot target based on several reason from the chart. Buy on weakness should be your consideration and 5600 would be an invalidation value
Long Hope for IDX Composite (IHSG)**Market Action DIscount Everything**
I got an idea based on price action analysis that JKSE (IHSG) would still maintain their bullish biases (momentum). We would see that the market formed a falling wedge pattern from 21st Jan of this year 'till this time, indicating that this market would make a continuation on their bullish trend. This signal was also confluenced by the order block on 20 Nov 'till 02 Dec 20 that remain a liquidity zone for the price, since we got 2 price rejection on 01 Feb and 20 May on this year. The last but not least, we may see that this market would reach their target price @7000 as their all time high price based on fibonacci external retracement cluster.
Short term note: Since we see that the market formed a mini raising wedge pattern on the edge of the faliing wedge, i expect that we gonna get a minor price correction before the market price goes high to the expected target.
Regards,
Happy Cuan