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Chart View on SMGR by Saelsita Stocks.

SMGR or PT Semen Indonesia (Persero) Tbk is engaged in the cement industry. SMGR and its subsidiaries (Group) cement plants are located in Gresik and Tuban in East Java, Indarung in West Sumatera, Pangkep in South Sulawesi and Quang Ninh in Vietnam. The Group's products are marketed domestically and internationally. SMGR is controlling shareholder is the Government of the Republic of Indonesia (Idnfinancials 2017). 

SMGR was closed at 9225 on 17 March, 2017 with the nearest resistant (R1) at 9500-9700 and support (S1) at 9175-9000, next support (S2) is at 8700-8550. Since 2 November 2016, SMGR moves in sideway (consolidation) with price range 8550-9700. SMGR's chart is shown below:
















The RSI indicator shows that the red line almost cross up the green line and so as the the MACD lines indicator (GC). The RSI lines are at 50 point and the MACD lines are slightly above 0. The volume MA indicator (VMA) show that the longer period VMA line almost cross up the VMA8 line. The trading volume on 17 March was around twice of the trading volume the day before. From SMGR's price movement, its MAs show that SMGR's price is moving in the sideway to bearish trend.

Conclusion:
The RSI, MACD, and VMA indicators of SMGR shows an indication of trend change in the price movement. However, SMGR's price MA lines are against it. Thus, one better waits for a confirmation from the market. However, there is a saying "the higher risk the higher the profit. Thus, for investor with a long period, he/she may enter SMGR with Buy on Support (BoS) strategy and reserve some cash to average down (add at lower price) should the price decrease.

Contacts:
Twitter  : @LowFreqTrading
Telegram : t.me/SaelsitaStocks
Facebook : Saelsita Stocks

Disclaimer: 
This note is the author's opinion/prediction. This note is prepared as an additional reference for readers and never meant to affect readers' decision in the future. Therefore the author is exempted. Each investor/trader is fully responsible for his/her action in the capital market. 

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