PT Adhi Karya (Persero) Tbk (ADHI) is as a state-owned company which engaged in construction, EPC, property, real estate, infrastructure investment, the implementation of railway infrastructure and facilities, procurement of goods and services the hotel. The Company started its commercial operations on March 11, 1960 (Idnfinancials 2017).
On 24 March 2017, ADHI was closed at 2360 with opening at 2400, high at 2410, and low at 2360. The nearest support (S1) of ADHI is 2350-2310 and S2 at 2230-2170 while the resistant (R1) is at 2420-2480. The chart is shown below:
The RSI show a dead-cross, with position between 50-60, which indicates that the price movement will go down. The MACD indicator is still okay at above 0. However the candlesticks show a three red/black candles on the last 3 trading days with formation Lower High (LH) and Lower Low (LL). Candlestick indicates the decrease of ADHI's market price in the short term which confirms the RSI indicator. In relation with it, the 2 short term MA lines show the price is below the MAs thus amplify the candlestick prediction. The shorter Volume MA (VMA) is below the longer VMA which indicates the decrease of trading volume in the short term.
Conclusion:
The writer has closed his position at 2370 before the preclosing time on Friday with net profit 2.3%. If one's buying price is maximum at S2 range, then he/she may wait and see if the price will breakdown the S1 range. However, if one's price is above S2 range, it's better to secure the profit first. If somehow the price eventually go up and breakout the R1 range, one still can buy back the stock.
Contacts:
Tweet to @LowFreqTrading
Telegram channel: @SaelsitaStocks
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.
On 24 March 2017, ADHI was closed at 2360 with opening at 2400, high at 2410, and low at 2360. The nearest support (S1) of ADHI is 2350-2310 and S2 at 2230-2170 while the resistant (R1) is at 2420-2480. The chart is shown below:
The RSI show a dead-cross, with position between 50-60, which indicates that the price movement will go down. The MACD indicator is still okay at above 0. However the candlesticks show a three red/black candles on the last 3 trading days with formation Lower High (LH) and Lower Low (LL). Candlestick indicates the decrease of ADHI's market price in the short term which confirms the RSI indicator. In relation with it, the 2 short term MA lines show the price is below the MAs thus amplify the candlestick prediction. The shorter Volume MA (VMA) is below the longer VMA which indicates the decrease of trading volume in the short term.
Conclusion:
The writer has closed his position at 2370 before the preclosing time on Friday with net profit 2.3%. If one's buying price is maximum at S2 range, then he/she may wait and see if the price will breakdown the S1 range. However, if one's price is above S2 range, it's better to secure the profit first. If somehow the price eventually go up and breakout the R1 range, one still can buy back the stock.
Contacts:
Tweet to @LowFreqTrading
Telegram channel: @SaelsitaStocks
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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