KIWOOM EQUITY LUNCH RESEARCH NOVEMBER 04, 2021
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04 Nov 2021

Market Review (Session 1)

In session 1, JCI closed positive 0.82% to the level of 6,605.84


Market Prediction (Session 2)

JCI : The index closed higher with bullish and slightly above our resistance flow . As long as JCI does not turn into a bearish candle, there is potential for further strengthening. If it moves bearish, JCI can close the gap area first at 6,552.

  • ADHI : The price managed to touch the first target at 1,125 (+2.2%), the highest was at 1,135 (+3.2%) and closed at 1,120 (+1.81%). The price still has a chance to continue strengthening to the next target. Confirmation for further strengthening if the price is bullish again and breaks up to 1,135. Be careful if it closes into a bearish candle.
  • BBRI : The price closed slightly higher with a bearish candle. The price still has a chance to strengthen as long as it maintain above support. Confirmation for further strengthening if the price is bullish again and breaks up to level 4,340. Be careful if the price goes down below support level.
  • CTRA : The price managed to touch the first target at 1,110 (+2.3%), the highest at 1,115 (+2.8%) and closed at 1,100 (+1.4%). The price still has a chance to continue strengthening to the next target Confirmation for further strengthening if the price is bullish again and breaks up to level 1,110. Be careful if the price closes into a bearish candle.
  • SMGR : The price managed to touch the second target at 10,000 (+5.5%), the highest at 10,100 (+6.6%) and closed at 10,075 (+6.3%). The price still has a chance to continue strengthening to the next target at 10,550. The price has breakout gap which indicates a strong bullish trend signal. The benchmark for immediate support is at the range of 9,475 – 9,575. Be careful if the price closes into a bearish candle. 


News

  • PT Kobexindo Tractors (KOBX) in the third quarter of 2021 posted revenues of USD 89.48 million. Soared 154 percent over the same period last year USD 35.20 million.
  • PT Ace Hardware Indonesia (ACES) in the third quarter of 2021 recorded sales of IDR 4.60 trillion. It was down 14.35 percent compared to the same period last year of IDR 5.38 trillion.





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