Daily News 29 March 2023
29 March 2023
*MARKET SUMMARY*
KB VALBURY SEKURITAS
Wednesday, 29 March 2023
HEADLINE NEWS
• BUKA - Records a net profit of IDR2.0 tn in FY2022
• PWON - FY22 PATMI at IDR1.83 tn
• BUMI – FY22 earnings jumped 212% yoy
• MDKA – Nickel subsidiary aims for up to IDR8.74 tn from IPO
• ANTM – Aims to receive shareholder loan for capex funding
VIEW MARKET
US market closed in red during Tuesday's trade (28/03) with DJIA and S&P contracting and Nasdaq remained under pressure. A recent economic data revealed that consumer confidence strengthened with index rising to 104.2 in February compared to 103.4 in previous month, beating expectations, accompanied with increasing outlook for inflation at 6.3%. With consumer data in mind as well as regulators effort for quelling contagion risks, however, market's fear on risks of high interest rates seem to resurging as yields of 2Y US T-bond back up to 4%.
On the other side, market in Europe remains fragile with indices ending with modest gains and losses, indicating investors' conservatism as development of Credit Suisse acquisiton by UBS kept rolling in.
On commodities, oil prices continued to gain with WTI and Brent at above USD73-USD78 following reports on Iraq that is forced to halt exports in N. Kurdistan through Turkey.
Mixed with ending across global indices may influence domestic index, while market is waiting for inflation data due on Friday.
Technical View
Support Level 6729/6698/6680
Resistance Level 6778/6796/6827
Major Trend Up
Minor Trend Down
Pattern : Down to Up (+)
TRADING IDEAS :
These recommendations based on technical and only intended for one day trading
*PTBA*: Trading Buy
• *Close 3810, TP 3880*
• Entry price at *3740-3810*
• Resistance level at *3880* & support at *3740*
• Beware if the price exceeding *3740*
• Stoploss level at *3600*
*UNTR*: Trading Buy
• *Close 28575, TP 29050*
• Entry price at *28000-28575*
• Resistance level at *29050* & support at *28000*
• Beware if the price exceeding *28000*
• Stoploss level at *26950*
*INCO* : Trading Buy
• *Close 6525, TP 6650*
• Entry price at *6425-6525*
• Resistance level at *6650* & support at *6425*
• Beware if the price exceeding *6425*
• Stoploss level at *6200*
*ANTM*: Trading Buy
• *Close 1995, TP 2040*
• Entry price at *1970-1995*
• Resistance level at *2040* & support at *1970*
• Beware if the price exceeding *1970*
• Stoploss level at *1900*
*ITMG*: Buy on Weakness
• *Close 39725, TP 40200*
• Entry price at *39000-39725*
• Resistance level at *40200* & support at *39000*
• Beware if the price exceeding *39000*
• Stoploss level at *37800*
*SMGR*: Trading Buy
• *Close 6375, TP 6550*
• Entry price at *6300-6375*
• Resistance level at *6550* & support at *6300*
• Beware if the price exceeding *6300*
• Stoploss level at *6050*
*TP : Target Price
(Disclaimer ON)
Read the full report…
Trading Ideas..
Daily Economic Report..
KB VALBURY SEKURITAS
Wednesday, 29 March 2023
HEADLINE NEWS
• BUKA - Records a net profit of IDR2.0 tn in FY2022
• PWON - FY22 PATMI at IDR1.83 tn
• BUMI – FY22 earnings jumped 212% yoy
• MDKA – Nickel subsidiary aims for up to IDR8.74 tn from IPO
• ANTM – Aims to receive shareholder loan for capex funding
VIEW MARKET
US market closed in red during Tuesday's trade (28/03) with DJIA and S&P contracting and Nasdaq remained under pressure. A recent economic data revealed that consumer confidence strengthened with index rising to 104.2 in February compared to 103.4 in previous month, beating expectations, accompanied with increasing outlook for inflation at 6.3%. With consumer data in mind as well as regulators effort for quelling contagion risks, however, market's fear on risks of high interest rates seem to resurging as yields of 2Y US T-bond back up to 4%.
On the other side, market in Europe remains fragile with indices ending with modest gains and losses, indicating investors' conservatism as development of Credit Suisse acquisiton by UBS kept rolling in.
On commodities, oil prices continued to gain with WTI and Brent at above USD73-USD78 following reports on Iraq that is forced to halt exports in N. Kurdistan through Turkey.
Mixed with ending across global indices may influence domestic index, while market is waiting for inflation data due on Friday.
Technical View
Support Level 6729/6698/6680
Resistance Level 6778/6796/6827
Major Trend Up
Minor Trend Down
Pattern : Down to Up (+)
TRADING IDEAS :
These recommendations based on technical and only intended for one day trading
*PTBA*: Trading Buy
• *Close 3810, TP 3880*
• Entry price at *3740-3810*
• Resistance level at *3880* & support at *3740*
• Beware if the price exceeding *3740*
• Stoploss level at *3600*
*UNTR*: Trading Buy
• *Close 28575, TP 29050*
• Entry price at *28000-28575*
• Resistance level at *29050* & support at *28000*
• Beware if the price exceeding *28000*
• Stoploss level at *26950*
*INCO* : Trading Buy
• *Close 6525, TP 6650*
• Entry price at *6425-6525*
• Resistance level at *6650* & support at *6425*
• Beware if the price exceeding *6425*
• Stoploss level at *6200*
*ANTM*: Trading Buy
• *Close 1995, TP 2040*
• Entry price at *1970-1995*
• Resistance level at *2040* & support at *1970*
• Beware if the price exceeding *1970*
• Stoploss level at *1900*
*ITMG*: Buy on Weakness
• *Close 39725, TP 40200*
• Entry price at *39000-39725*
• Resistance level at *40200* & support at *39000*
• Beware if the price exceeding *39000*
• Stoploss level at *37800*
*SMGR*: Trading Buy
• *Close 6375, TP 6550*
• Entry price at *6300-6375*
• Resistance level at *6550* & support at *6300*
• Beware if the price exceeding *6300*
• Stoploss level at *6050*
*TP : Target Price
(Disclaimer ON)
Read the full report…
Trading Ideas..
Daily Economic Report..