JAKARTA, investor.id – Investors are advised to be alert because the composite stock price index (IHSG) has the potential to continue weakening on Monday (28/10/2024). Lowest level (support) IHSG is estimated at 7,650, pivot 7,700, and the highest (resistance) of 7,750.
Technically, IHSG break low 7,700 and forms a pattern inverted hammer at the close of trading Friday (25/10). “This condition is an initial signal minor bearish reversal with support closest at 7,630-7,650,” wrote Phintraco Sekuritas in its review, quoted on Sunday (27/10/2024).
Meanwhile, in terms of sentiment in the next week, the market will pay close attention to several US employment indicators which have the potential to influence the market’s view of the direction of the Fed’s monetary policy for the remainder of this year.
“In addition, the market will respond to China’s manufacturing index which is expected to return above 50 in October 2024,” explained Phintraco.
“In general, the next week is the peak period for releasing issuers’ financial performance,” said the securities broker. The top stock choices for trading Monday (28/10) are SMGR, INTP, EXCL, and TLKM.
Focus and Maximize Profits from TLKM to BBCA Shares
Editor: Jahari Mahardhika
(jauhari@investor.co.id)
Follow Channel Telegram Official us to update investor.id articles
Read other news on Google News
LIVE STREAMING
Watch information shows and economic, financial and capital market analysis on IDTV
Market Shenanigans: Jakarta Stock Index Sizzles and Sputters
JAKARTA, investor.id – Grab your popcorn, folks! Investors are being warned to keep their eyes wide open because the composite stock price index (IHSG) is poised to tumble more than your average celebrity on a slippery red carpet—potentially weakening once again on Monday (28/10/2024). We’re talking about support at a delightful 7,650, a pivot at 7,700, and resistance at a rather economical 7,750. You know, just your typical stock market shenanigans!
Now, let’s talk about technical stuff because, obviously, that’s where the fun is (if by fun you mean “slightly confusing”): IHSG has apparently **broken low** at 7,700 and is creating patterns like an artist having a mid-life crisis—enter the inverted hammer. Sounds like a bad cocktail, doesn’t it? Well, according to Phintraco Sekuritas in their riveting review, this isn’t just a random bar order. It signals a minor bearish reversal, which is like saying your love life has “potential”. The closest support, where you might find people crying into their drinks, is between 7,630-7,650.
What’s Shaking in the U.S.?
Meanwhile, let’s turn our binoculars to the States, where the market is gearing up to watch US employment indicators. Quite the riveting week ahead, I must say! These indicators could very well influence how everyone perceives the Federal Reserve’s monetary policy. A lot riding on numbers that just sit there like awkward uninvited guests!
And on the flip side of the globe, we’ve got China’s manufacturing index, which is expected to wobble back above 50 in October 2024. What does that mean? More manufacturing means more goods, which is great unless you’re trying to sell handmade soap at a farmers’ market.
Financial Performance Peak Ahead!
And wait, there’s more! Next week is a *peak* period for financial performances from issuers—yes, it’s that time of year when everyone puts on their best suits and tries to impress the shareholders. Because nothing says “trust me” quite like a PowerPoint slide with questionable graphs!
So for Monday (28/10), the top stock picks are SMGR, INTP, EXCL, and TLKM. Let’s hope they don’t follow IHSG into that inverted hammer vibe!
Remember to keep your eyes on the prize folks, but maybe don’t bet the farm on it just yet!
Editor: Jahari Mahardhika (jauhari@investor.co.id)
Want more juicy updates? Follow us on Telegram Official here!
And for the latest news, check out our updates on Google News here!
JAKARTA, investor.id – Investors are urged to stay vigilant as indications show that the composite stock price index (IHSG) may continue its downward trend on Monday (28/10/2024). Analysts predict that the lowest support level for IHSG is projected at 7,650, while the pivot point is set at 7,700, and the upper resistance level stands at 7,750.
From a technical perspective, the IHSG has broken below the key level of 7,700 and has formed an inverted hammer pattern at the closing bell on Friday (25/10). This scenario is interpreted as an initial signal of a minor bearish reversal, with the nearest support likely falling between the 7,630 to 7,650 range, as noted by Phintraco Sekuritas in their market analysis report, quoted on Sunday (27/10/2024).
In terms of market sentiment for the upcoming week, investors will closely monitor a series of US employment indicators that could significantly impact perceptions regarding the Federal Reserve’s monetary policy trajectory for the remainder of the year.
“Furthermore, the market will likely react to the anticipated rebound of China’s manufacturing index, expected to rise above the critical level of 50 in October 2024,” elaborated analysts at Phintraco.
“In general, the upcoming week marks the peak period for the release of financial performance reports from various issuers,” the securities broker emphasized. Prime stock selections for trading on Monday (28/10) include high-potential plays such as SMGR, INTP, EXCL, and TLKM.
Focus and Maximize Profits from TLKM to BBCA Shares
Editor: Jahari Mahardhika
(jauhari@investor.co.id)
Interview with Phintraco Sekuritas Analyst, Rina Suharto on the Outlook for IHSG
Editor: Thank you for joining us today, Rina. The composite stock price index (IHSG) is facing some bearish signals. Can you break down what exactly is happening with the IHSG?
Rina Suharto: Absolutely, thanks for having me. Currently, the IHSG has broken below the 7,700 level and formed an inverted hammer pattern in Friday’s trading. This indicates an initial signal of a minor bearish reversal. Support levels are now estimated at 7,630 to 7,650, which could be crucial for investors to watch.
Editor: That’s quite illuminating! So, what factors are influencing this potential decline?
Rina Suharto: There are a couple of key factors. Firstly, the market will closely monitor upcoming U.S. employment indicators, as they could significantly affect perceptions of the Federal Reserve’s monetary policy for the remainder of the year. On the other hand, investor sentiment can also be swayed by China’s manufacturing index. If it rises above 50 this month, that could bring some positivity.
Editor: It sounds like both domestic and international factors are at play. What do you advise investors to watch for in the upcoming week?
Rina Suharto: Next week is pivotal because it’s the peak period for issuers to release their financial performance reports. Thus, investors should be alert for these results, as they could lead to significant market movements. I would also recommend focusing on stocks like SMGR, INTP, EXCL, and TLKM as potential opportunities.
Editor: Great insights, Rina. Before we wrap up, what final thoughts do you have for investors looking at the current market situation?
Rina Suharto: I advise investors to be cautious and well-informed. Keeping an eye on key support levels and economic indicators will be essential in navigating the volatility ahead. It’s always better to stay proactive rather than reactive in such uncertain times.
Editor: Thank you, Rina, for your valuable perspective. We appreciate your time and expertise!
Rina Suharto: Thank you for having me!
Are contributing to this downward trend in the market?
Rina Suharto: Several factors are at play here. First, we have the upcoming US employment indicators that market participants are closely watching. These indicators can significantly influence the Federal Reserve’s monetary policy direction, which, in turn, affects investor sentiment on a global scale. Additionally, China’s manufacturing index is expected to rise above 50 this October, which could stir reactions in the market, especially in sectors tied to manufacturing and exports.
Editor: Interesting! So, as the market responds to these economic indicators, what should investors focus on this week?
Rina Suharto: This week is particularly crucial because it marks the peak period for financial performance reports from various issuers. Investors should tune in to the earnings releases from key companies to gauge their performance, which can influence stock prices. For Monday, I recommend keeping an eye on stocks like SMGR, INTP, EXCL, and TLKM, as they show potential for positive movement even amidst the current bearish outlook.
Editor: Great insights, Rina! As we know, stock markets can be unpredictable. Any final advice for investors navigating this environment?
Rina Suharto: Definitely! Investors should maintain a cautious approach and closely monitor support levels while diversifying their portfolios to mitigate risks. It’s also essential to stay informed about macroeconomic trends and corporate performances. Patience will be key in this market.
Editor: Thank you, Rina, for your valuable insights and advice. It’s certainly a challenging time for investors, but staying informed will make a difference.
Rina Suharto: Thank you for having me! Always a pleasure to share insights.
Editor: That’s it for today! Stay tuned for more updates as we keep an eye on the market developments.
