IDX Composite 27/02 - 04/02 IDX Composite is making a Correction Wave C
Just a simple & Quick Prediction using Fibo retrace and EW
Wish us a goodluck!
Havefun!
#DYOR
COMPOSITE trade ideas
COMPOSITE, JKSE, IHSG Possibility CorrectionCOMPOSITE has breakdown from Ascending Triangle pattern, Next area at demand zone 5930-6150
market started positive today after closing at 6800 levelthroughout its movement, the JCI has been positive by moving away from support at 6752, closing also well at the 6800 level. today JCI will test resistance 6858 to 6911 with support at 6752 and 6683.
the market has left the support range 6509 - 6752, after the crash from the fall of GOTO, which impacted to several stocks, both bigcaps stocks to second tier stocks.
Weakening Target of Jakarta CompositeDisclaimer on,
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
For 6 months ( 13 May '22 - 06 Dec '22 ), the Composite Index moves in a huge sideways and forming the Bearish Pattern Flag, finally it decide one way to be chosen.
Unfortunately , its choice is to go down which is confirmed by broke the lower trendline and close below it ( 08 Dec '22 ). This action is confirming the Bearish Flag Pattern which is mean then the price will be going down.
I assume:
- The first target of declining is the 6440 - 6450 level (1.0 Fibonacci Extension ratios and classic Support area).
- The lowest target of this decline is the 6140 - 6180 level, because there is a gap that needs to be closed at the levels 6160 - 6180 which was formed on 30 sept '21 . This assumption is reinforced by the accumulation of 1,618 Fibonacci Retracement and Fibonacci Extension ratios plus classic support area.
"Fasten your Seatbelt, and get ready to BOW"
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Best regards, @riandwip686
IDX Analysis....................................Downward trend analysis of IDX....................................
Return Comparison: Bitcoin, Jakarta Composite Index, and GoldReturn Comparison: Bitcoin, Jakarta Composite Index, and Gold
When Stock Market and Bond Market move South togetherComposite Index is still moving sideways but it has potential to continue upward direction.
ID10Y or Bond also is breaking out the down trendline which mean the yield is continuing upward direction too.
Composite is Bullish, ID10Y is Bearish.
Crash Potential 2026Two Fib. Resistance, 2026 is 18 years after 2008 crisis.
And i think the big trap will happen between 8500-9500 range.
Current Rise of JCI :I separate Big Caps stocks of JCI into 3 categories : Big Bank (BBCA, BBRI, BMRI and BBNI), Others (ASII and TLKM) and Consumer (INDF, ICBP and UNVR).
During 2022, the graphs is showing that Consumer stocks behave as Defensive Stocks that holds JCI during the bad time while Big Bank and Others lead JCI.
Recent rally of JCI shows that Big Bank and Others (once again) become leading stocks while Consumer become balancing stocks.
IHSG - 23 Mei 2022IHSG after set high record in 7354.08, got corrections by breaking ascending wedge pattern from 7246 and hit the TARGET 1 to 6596 (5% from body ascending wedge).
After that, breaking down the ascending channel and found support at 6511 (wave A), rebound to support that flip as resistance at 6957 (wave B). if we break support 6860, then probability the drop will continue to TARGET 2 to 6262 (wave c).
IHSG on supply areaThe price retest last resist at 7100 area. I recommend to wait until the market make new low at 6800 area to buy.
IHSGTechnical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume.
Big Caps of Composite MonitoringI monitor the big caps stocks that very much become the core of Composite.
The stocks are : BBCA, BBRI, BMRI, BBNI, ASII, TLKM, INDF, ICBP and TLKM.
I excluded GOTO because it has no enough previous movement.
I didn't include HMSP and GGRM because of their low Free Market Weighted.
Banking Stock near its Support while ASII+TLKM is has room to fall before meeting their Support.
Consumer Stocks is still Uptrend and could provide cushion and relatively hold Composite for falling too deep.
Feeling Bear for JKSEThe inflation situation right now impacted to Indonesia Stock Market, yet I think JKSE will eventually moving to a bear trend.
My personal view using elliott wave, JKSE will reach the area of 6050 - 6236 sooner or later.
DYOR
Composite Indonesia Stock Bull or Bear?The Composite Stock Price Index is one of the stock market indexes used by the Indonesia Stock Exchange. we know now inflation in US already rise and is will be very bad news for any stock exchange, the US and FED will increse the cash rate, so its will be affect to the composite Indonesia. Indonesia Composite already hit all time high in this year after the covid issue make indonesia composite correction around 38%.
In my opinion and my analyze, Composite indonesia still strongly bull and if we use wave analyze, now indonesia composite already in way to wave 5, i hope in now its still not yet achieve, because the target when i use fibbonaci retracement combine with fibbonaci extension its will be hit around 7500-7700. and after hit that point will be correction, and in my view the correction will be hit until around 6290-6300.
If you have any opinion let's comment in below and we can discuss with your view, if you agree with my opinion i want to say thanks to you.
Kind Regard,
KA
IHSG Leapfrog Style?There is a gap in 7200 that must be closed. However, today IHSG bump into that level and go down again. With upcoming BI Rate accouncement that would be resulted in increasing saving rate, I believe IHSG will have to go down until 6100-6200 before rising up to new ATH!
IDX 31st MAY 2022IHSG for the next 1 year, based on chart pattern analysis.
1. Macro resistance breakout at 6600 in October 2021, resistance area turns into support.
2. Retesting macro support area in May 2022.
3. Form a bullish channel pattern, with 2% support tolerance.
Technically if the price goes down then it will not be less than 6600.
Bullish target up to 7350-8000. This is my IDX trading plan, how about you?
IHSG WEEKLY ELLIOT WAVE PREDICT IHSG will have an ABC Correction after the 5 impulsive movement done (eliot wave theory). So hold up and keep money FRESH and Buy the stocks (bluechip) when the IHSG doing the ABC correction.
Maybe Arround 6700 we can SLOWLY buy our value stocks. For me the Banking Sector is the best choice like BBRI BBCA BBNI BMRI.
Disclaimer On
short on idxlong-legged doji on the weekly time frame on the top indicated trend reversal with the macroeconomy doesn't feel good at the moment. I am super bearish with the Indonesia stock market right now..
better to take profit and stay away from the stock market at the moment.
IHSG Composite ask permition to landing, captain!!!All info on the chart.. It's crystal clear!!
Tighten up your sitbelt..
Cheers!!!
