Daily News 26 May 2023
26 May 2023
*MARKET SUMMARY*
KB VALBURY SEKURITAS
Friday, 26 May 2023
HEADLINE NEWS
• GOTO - Plans to raise fund
• TLKM - Proposes 80% dividend payout ratio
• Banking - April23 loan growth at 8,08%yoy
• SILO – To add new hospitals
• SPTO – To disburse IDR25 per share in dividend
• IPCC – To increase its capex to IDR200 bn
• INDY – Allocate USD302 mn in capex
VIEW MARKET
US stocks closed lower on the back of lingering uncertainty progress on debt ceiling negotiations which has not reach deal yet. Market also continue closely watched a bunch of economic data front which can be used to provide insight into the track of inflation. VIX parks at lower zone as concern over drawbacks and debt ceiling seems quiter, in our view. From European market, stocks slip triggered by debt ceiling talks. Data from German statistics office updated that gross domestic product was revised down to -0.3% from zero. Elsewhere, UK consumer price fell by less than anticipated in Apr23, dropped to 8.7% from 10.1% in Mar23.
From commodity market, oil prices fell as Russia underestimates prospect on the next OPEX+ production cuts, while gold traded lower.
Meanwhile from Asia Pacific, market volatility remained colored with the US debt ceiling talks. From domestic market, JCI closed lower 41.5pts on lack of catalyst and US debt ceiling updates. Bank Indonesia maintain its policy rates. Nearest update on economic data metrics is due on 29May from M2 and will be followed by PMI and inflation rate on June23.
Technical View
Support Level 6689/6673/6643
Resistance Level 6734/6764/6779
Major Trend Up
Minor Trend Down
Pattern : Down to Up (+)
TRADING IDEAS :
These recommendations based on technical and only intended for one day trading
*BMRI*: Trading Buy
• *Close 5175, TP 5250*
• Entry price at *5075-5175*
• Resistance level at *5250* & support at *5075*
• Beware if the price exceeding *5075*
• Stoploss level at *4900*
*BBNI*: Trading Buy
• *Close 9000, TP 9075*
• Entry price at *8875-9000*
• Resistance level at *9075* & support at *8875*
• Beware if the price exceeding *8875*
• Stoploss level at *8675*
*INDF* : Trading Buy
• *Close 7100, TP 7200*
• Entry price at *6975-7100*
• Resistance level at *7200* & support at *6975*
• Beware if the price exceeding *6975*
• Stoploss level at *6750*
*MEDC*: Trading Buy
• *Close 930, TP 955*
• Entry price at *895-930*
• Resistance level at *955* & support at *895*
• Beware if the price exceeding *895*
• Stoploss level at *835*
*JPFA*: Trading Buy
• *Close 1235, TP 1265*
• Entry price at *1210-1235*
• Resistance level at *1265* & support at *1210*
• Beware if the price exceeding *1210*
• Stoploss level at *1155*
*ACES*: Trading Buy
• *Close 635, TP 650*
• Entry price at *600-635*
• Resistance level at *650* & support at *600*
• Beware if the price exceeding *600*
• Stoploss level at *550*
*TP : Target Price
(Disclaimer ON)
Read the full report…
Trading Ideas..
Daily Economic Report..
KB VALBURY SEKURITAS
Friday, 26 May 2023
HEADLINE NEWS
• GOTO - Plans to raise fund
• TLKM - Proposes 80% dividend payout ratio
• Banking - April23 loan growth at 8,08%yoy
• SILO – To add new hospitals
• SPTO – To disburse IDR25 per share in dividend
• IPCC – To increase its capex to IDR200 bn
• INDY – Allocate USD302 mn in capex
VIEW MARKET
US stocks closed lower on the back of lingering uncertainty progress on debt ceiling negotiations which has not reach deal yet. Market also continue closely watched a bunch of economic data front which can be used to provide insight into the track of inflation. VIX parks at lower zone as concern over drawbacks and debt ceiling seems quiter, in our view. From European market, stocks slip triggered by debt ceiling talks. Data from German statistics office updated that gross domestic product was revised down to -0.3% from zero. Elsewhere, UK consumer price fell by less than anticipated in Apr23, dropped to 8.7% from 10.1% in Mar23.
From commodity market, oil prices fell as Russia underestimates prospect on the next OPEX+ production cuts, while gold traded lower.
Meanwhile from Asia Pacific, market volatility remained colored with the US debt ceiling talks. From domestic market, JCI closed lower 41.5pts on lack of catalyst and US debt ceiling updates. Bank Indonesia maintain its policy rates. Nearest update on economic data metrics is due on 29May from M2 and will be followed by PMI and inflation rate on June23.
Technical View
Support Level 6689/6673/6643
Resistance Level 6734/6764/6779
Major Trend Up
Minor Trend Down
Pattern : Down to Up (+)
TRADING IDEAS :
These recommendations based on technical and only intended for one day trading
*BMRI*: Trading Buy
• *Close 5175, TP 5250*
• Entry price at *5075-5175*
• Resistance level at *5250* & support at *5075*
• Beware if the price exceeding *5075*
• Stoploss level at *4900*
*BBNI*: Trading Buy
• *Close 9000, TP 9075*
• Entry price at *8875-9000*
• Resistance level at *9075* & support at *8875*
• Beware if the price exceeding *8875*
• Stoploss level at *8675*
*INDF* : Trading Buy
• *Close 7100, TP 7200*
• Entry price at *6975-7100*
• Resistance level at *7200* & support at *6975*
• Beware if the price exceeding *6975*
• Stoploss level at *6750*
*MEDC*: Trading Buy
• *Close 930, TP 955*
• Entry price at *895-930*
• Resistance level at *955* & support at *895*
• Beware if the price exceeding *895*
• Stoploss level at *835*
*JPFA*: Trading Buy
• *Close 1235, TP 1265*
• Entry price at *1210-1235*
• Resistance level at *1265* & support at *1210*
• Beware if the price exceeding *1210*
• Stoploss level at *1155*
*ACES*: Trading Buy
• *Close 635, TP 650*
• Entry price at *600-635*
• Resistance level at *650* & support at *600*
• Beware if the price exceeding *600*
• Stoploss level at *550*
*TP : Target Price
(Disclaimer ON)
Read the full report…
Trading Ideas..
Daily Economic Report..