Watch Banking Sector.

After more than three months consolidated and even tended to weakened, now most of big cap on banking sector have out from their oversold area.

best regards,

ASII – Flag pattern

ASII has breakup the flag pattern resistance on the last two trading days.
Flags pattern are short-term continuation patterns that mark a small consolidation before the previous move resumes. These patterns are usually preceded by a sharp advance or decline with heavy volume, and mark a mid-point of the move.



The price rebounded after touched the lowest line of Standard Error channel,
MACD Histogram and True Strength Index indicator give good signals. These could be considered as the beginning of new up-trend.

Target Price : IDR 33,600 (2-4 months).

Best Regards,

ANTM - Technical Review

After rally on news at 14 February 2008, ANTM closed at 4225, right on the line of 78.6% Fibonacci Retracement (FR) of BC point, and weakened on profit taking action on the next day.



The bearish resistance line has broken at 14 February 2008 and the line became its bullish support line.
If ANTM price movement could sustain and not break the support line, there’s a big chance to ANTM to move on its short-term rally to 4350 (61.8% FR of XA point) and to 4775 (78.6% FR of XA point)



Best Regards,

ELTY - perform Broadening formation, right-angled and descending.

ELTY performing Broadening pattern, right-angled and descending.

This is one of Top 10 Bullish Technical Chart Pattern with Most Likely Rise,
with 19% Average Failure (Percentage of formations that do not work as
expected). On other words, have 81% success probability.

Breakout is valid when ELTY could break 670 with big volume and closed higher than 670.

Price Objective: IDR 900 (1-3 months).






to find more about this pattern, follow this links:
www.coveredcallswins.com
thepatternsite.com

best regards,

IHSG – Potentially to make new highest record.

After resisted at the resistance range of 61.8% Fibonacci retracement,
IHSG start to perform the uptrend signals and indicating to continue
the rally. The positive strength signals for medium term could be
monitored at the major stocks, such as:
AALI, ANTM ASII, BBRI, BMRI, BUMI, INCO, INTP, ISAT, LSIP, SGRO, SMGR,
TINS, TLKM, UNSP, and UNTR.

The positive signals also appeared at the second liner stock charts, such as:
BNBR, BTEL, BKSL, ELTY, KLBF, INDF, KIJA, and TBLA.

Although there's a potential minor correction on profit taking action,
IHSG have a big chance to make a new highest record.
Minor correction moment usually considered as entry point to some
investors to collect some prospect stocks.

Best regards,

IHSG: Resisted at 61.8% Fibonacci Retracement

After freefall about 21% from previous highest level on the beginning of this year, IHSG rebounded and almost recover the position.

But, this rebound resisted and slowed down at 61.8% fibonacci retracement level, as the market subjects still unsure about the next global market movement.

Let's take the bigger picture, recent global market movement strongly influenced by US market sentiment. There were excessive fears about US recession and its impact to the global economy.
But in technical reading, bullish reversal patterns have seen on DJIA and SP500 chart, Butterfly Pattern. According to this pattern, DJIA have possibility to rebound to 13,349 level (78.6% fibonacci retracement) which is almost precisely meet the resistance of  the downtrend channel (see attachment).
This is a critical level. If this resistance could breakthrough, then DJIA potentially make a new high.

Now, back on IHSG, Good signs have seen on indicators, such as MACD and True Strength Index. (see pictures).
Technically, IHSG still have a chance to continue the rally despite some profit taking actions would caused minor correction.

Best regards,