POINT OF VIEW - JCI DIRECTION ANALYSIS - Trading Consultant | Securities | Research

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Sunday, 24 January 2010 02:52

POINT OF VIEW

JCI DIRECTION ANALYSIS

Comment

Jakarta Composite Index is in the final stage of intermediate bullish movement. Speaking swing section, JCI now is completing wave 5 target. Wave 5 of JCI was sudivided into 3 waves and the third wave was also subdivided into 5 waves. Now, wave 4 is emerging and near to completion. However the major upside trend is should be very limited as wave 5:3:5 will be appear soon, if not extend. Let assume wave 5:5 is not extend, so the best decision is to exit the market as soon as possible following the upstream of JCI.

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System

ASTRONACCI © Trading System by Stocksforliving Indonesia,Ltd

Momentum

Daily momentum bearish not oversold confirming a formation of wave 4:3:5.

Pattern

Wave 4 of 3 of 5 is emerging now.

Price

Wave 4 typical target is 2.553 – 2.569, or 2.517 – 2.537. That support is around 180 and 270 degrees earth rotation.

Trading Advises

Long trade should be taken when price makes reversal after reach that area and follow by bullish reversal on Stochastic 5,3,3.

Analyst Certification:

The views expressed in this research report accurately reflect the analyst’s personal views about any and all of the subject securities or issuers; and no part of the research analyst’s compensation was, is, or, will be, directly, indirectlyrelated to the specific recommendations or views expressed in the report.

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