Time to look for cheap stocks, the IHSG session can fly

Jakarta, CNBC Indonesia – Composite share price index (IHSG) in perdagangan Friday weekend (10/ 9/20) showing signs of revival after news circulated among market players that PSBB Total would be reviewed.

In at 9:36 a.m. WIB IHSG still in the red zone, it fell 0.96% to the level of 4.844.59 after having risen 0.30%. This morning JCI had fallen 2.80%

The stock that foreigners have sold the most today is PT Bank Central Asia. Tbk (BBCA) for a net sale of Rp 71 milesand and PT Bank Rakyat Indonesia Tbk (BBRI) who recorded net sale worth 20 billion IDR.

Whileaham the most dikoleksi foreigners today are PT Sarana Menara Nusantara Tbk (TOWR) with a net purchase of Rp. 10 milesand dan PT United tractors Tbk (UNTR) with Net purchase worth 3,000 million rupees.

On Wednesday (9/9/20), DKI Jakarta Governor Anies Rasyid Baswedan announced that the “emergency brake” had been removed. Large Scale Social Restrictions (PSBB) in the capital have become more stringent, there is no longer a Transitional PSBB. Starting September 14, Jakartans are again advised to #dirumahaja.

“We will draw the ’emergency brake’, which means that we are forced to reapply the PSBB as it was in the early days of the pandemic. It is no longer a Transitional PSBB, but we must carry out the PSBB as it was in the first few days, “Anies said.

Technical analysis

Photo: Tri Putra / CNBC Indonesia IHSG

Movement IHSG using the hourly (hourly) period of the indicator Boillinger Band (BB) using the upper limit area method (resistance) and lower limit (support for). Actually, IHSG I sat down the area of ​​the lower boundary where the BB tends to widen then move IHSG following has a tendency strongly appreciated.

For meofchange the bias to bullish or booster, you need to pass the level resistance which is in area 5.011. Meanwhile for mixtureyoutkan train bearish or the decline needs to level up support for what is in the area 4.906.

Indicator Relative Strength Index (RSI) as a momentum indicator that compares the amount of current price rise and fall over a period of time and serves to detect overbought conditions (overbought) above the 70-80 level and oversold (oversold) below the 30-20 level.

Actually RSI be in angka 35, that is to say has not shown any saturation indicator sell or saturate to buy however, the RSI is consolidating after touching the oversold level generally means movement IHSG the next one will tend to tarapresses.

Furthermore, a pattern has emerged candlestick two white soldiers indicated by two candlestick long sequential green which generally means more IHSG movement will fly.

In general, through a technical approach with BB indicators located in the zone lower limit, then the next move has a tendency yesull strong or tarappreciation. This is also confirmed by the appearance of indicators. RSI that consolidated and indicators candlestick two white soldiers.

The index must pass through (break) one of the levels resistance or support for, to see the direction of subsequent movement.

CNBC INDONESIA INVESTIGATION TEAM

(trp / trp)