After a big down on Indonesia Stock Exchange (IDX/JKSE) before (23-05-2011), I see there are several buy signal today (based on the yesterday data/chart (24-05-2011) by using Stock Market Analysis. This time Stocks Analysis, let’s focus on the CPIN (Charoen Pokphand Indonesia Tbk). I see a bullish harami signal on the CPIN candlestick chart as below:
Click Picture for Better View
CPIN’s Stocks Analysis: Support and Resistance
I also complete the chart with resistance and support (target price) as below:
- Support price = 1840
- Resistance price 1 = 1910
- Resistance Price 2 = 1950
CPIN’s Stocks Analysis: Target and Cut Loss Price
With above data, I suggest to buy the CPIN with its current price and set:
- Target Price 1 = 1900
- Target Price 2 = 1940
- Cut Loss = 1820
Final Words
Of course, you may adjust the target price and cut loss based on your own Analysis and money management as well as the future stocks market analysis. Please be aware that I only use Candlestick indicator in here so you should wait confirmation from other indicators available such as Stochastic, Volume, Bollinger Band, or other indicators for more assurance.
[...] time let’s take a look on BBCA (Bank Central Asia) which give a strong buy signal. Last time, CPIN only give a bullish harami signal which means that candlestick tell us to get ready and wait fo…. Now, BBCA has the strong buy signal with confirmation from three indicators: Candlestick, Volume, [...]