IDXNONCYC: Is It Time for "Consumer Defensive Stock" to Shine?Hello Fellow Global Stock Trader/Investor!
IDX Sector Consumer Non-Cyclical is an index that tracks the price movement of Indonesia Consumer Defensive Stocks. People call it "Consumer Defensive Stocks" because the customers will continue to consume the company's products even during an economic downturn.
Why do we forecast the IDXNONCYC?
By Analyzing the Sectoral Indices Movement, We could use the data as a filter to look for a potential trading setup in a specific sector.
Technical Analysis
1. IDXNONCYC is moving above the EMA90 which indicates a bullish trend
2. Breaking out of the Falling Wedge pattern
3. MACD created a golden cross, it signified the possibility of continuing its bullish trend to the target area
The roadmap will be invalid after reaching the target/support area.
" Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the IDXNONCYC"
