IDX: ASII , FOR NEXT WEEKSTRONG SUPPORT AT 5075
STRONG RESISTANCE AT 5500
I prefer yellow trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
ASII trade ideas
ASII RSI 14 Divergence Bearish Potential ENThis is personal opinion not a recommendation nor a signal, disclaimer on.
There is negative divergence between the price and RSI indicator. However this divergence doesn't confirmed yet, the confirmation came from violation of the current bull trendline. There is 2 Scenario that would likely to happen if the analysis correct. Its either a trendline breakout into previous swing low level in 5200, or it can make head n shoulder pattern since there is positive sentiment for this automotive industry.
Why Cut Loss in ASII?ASII is a retail favorite LQ45 stocks, including me. But a few days ago, I decided to sell ASII with loss.
Here is the reasons:
1) After bouncing back from support at EMA100 and breaking EMA50, it turned out that ASII was unable to break through to EMA20 and turned back to EMA100.
2) When it fails to break EMA20 at 6275 and then goes down, the chart formation is potential to form a Head and Shoulder pattern.
3) Because ASII is a share held most by foreigners with a proportion of 72% as of 31 January 2021, it is important to look at foreign flows. And it turns out that foreigners have made significant distribution actions.
There is also some speculations spread out in connection with the slump in ASII. There are those who associate it with the collapse of the Cipali toll road, there is also because of foreign broker portfolio rebalancing by exchanging ASII's ownership to BBRI and ANTM (because of MSCI).
Whatever it is, the chart shows a potential for a significant decline, if the HnS scenario occurs.
The decision to sell is a rational decision, as it seems. What you see is what you get.
So Simple!
I will wait for the correction in the area that I have marked on the chart.
@MonsterTurtle