Jakarta, CNBC Indonesia – The Composite Stock Price Index (IHSG) in the first trading session earlier this week, Monday (7/9/20), was slightly corrected after having dropped 0.42% to 5,217.59 levels. Interval 12 minutes after opening had collapsed to the lowest level 5,195.
However, JCI was able to end trading session 1 with a slight decline of 0.13% to 5,232.94.
Trade data noted that foreign investors did net selling of Rp 438 billion in the regular market today with today’s transaction value of Rp 3.4 trillion.
The Blavatnik School of Government at the University of Oxford (UK) released the Containent Health Index figures that illustrate how well a country is capable of dealing with the corona virus pandemic from a health aspect.
This index looks at the aspects of limiting community activities, testing (testing), tracking (tracing), investment in the health sector, to the development of an anti-corona vaccine.
As of September 4, Indonesia’s Containment Health Index score was 56.44. Of the 10 ASEAN member countries, Indonesia ranks sixth.
Furthermore, stock exchanges in the Asian region are also observed to have begun to rise after opening red this morning. The Nikkei in Japan depreciated 0.38%, the Hang Seng Index in Hong Kong rose 0.05%, while the STI Index in Singapore appreciated 0.12%.
Optimism for Asian markets began to emerge after China released its export-import data in August, which showed Panda Country’s exports shot up by 9.5% Year on Year (YoY) from July’s position which only rose 7.2%. This news makes the market happy even though China’s import data is still observed to decline in August, namely 2.1% YoY from July’s position of 1.4% YoY.
Technical Analysis
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Photo: CNBC Indonesia IHSG Technical- – |
Movement IHSG by using the hourly period (hourly) of the indicator Boillinger Band (BB) via the upper bound area method (resistance) and lower limit (support). Currently, IHSG is at the lower boundary area where the BB tends to widen then movement IHSG next tendappreciated.
For meofchange the bias to bullish or reinforcement, it is necessary to pass the level resistance which is in area 5.260. Meanwhile for mixutkan train bearish or decline needs to pass the level support which is in area 5.192.
Indikator Relative Strength Index (RSI) as a momentum indicator that compares the amount of increase and decrease in the current price in a period of time and serves to detect overbought conditions (overbought) above the 70-80 level and oversold (oversold) below level 30-20.
Currently RSI be in the area 42, which shows not yet overbought indicator however, the RSI is consolidating up after touching the oversold level usually signifies movement IHSG next will tend to tarapresses.
Overall, through a technical approach with BB indicators located in the area lower limit, then the next movement is likely bullish or tarappreciation. This is also confirmed by the appearance of indicators RSI that consolidated up.
The index needs to go through (break) one of the levels resistance or support, to see the direction of further movement.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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