Over the past few weeks, the technical picture of the Indonesian stock exchange (analysed via the Jakarta Stock Exchange Composite Index, IDX) has improved.
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Prices, after having fallen at the beginning of November to a relative low of 6,640 points, made a quick leap forward and rose to a peak of 7,200 points.
Quantitative analysis shows a clear strengthening of the bullish pressure, with the main directional indicators turning long.
After a short settlement pause, necessary to discharge the strong overbought, a further extension is therefore possible with a first target at 7,250 and a second target in the 7,350-7,370 points area.
The breakout of this area will then open up further room for growth.
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It is difficult for now to hypothesise a bearish trend reversal: from a graphical point of view, in fact, only a daily closing below 6,500 points could provide a negative signal and trigger a downturn of a certain consistency.
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The following ETFs can be used to invest in the Indonesian stock market:
HSBC MSCI Indonesia, ISIN IE00B46G8275. This ETF has €76m in assets under management, provides full physical replication of the underlying and has a distribution policy (with dividends being distributed semi-annually to investors). The total expense ratio (TER) is 0.50% per annum.
Lyxor MSCI Indonesia, ISIN LU1900065811. This ETF has €44m in assets under management, synthetic replication of the underlying (via a swap) and adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.45% per annum.
Xtrackers MSCI Indonesia, ISIN LU0476289623. This ETF has EUR 46m in assets under management, synthetic replication of the underlying (via a swap) and adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.65% per annum.
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Reproduction prohibited in any form, even partial
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The contents of these notes and the opinions expressed should in no way be regarded as an invitation to invest. The analyses do not constitute a solicitation to buy or sell any financial instrument.The purpose of these notes is financial analysis and investment research. Where recommendations are made, they are of a general nature, are addressed to an indistinct audience and lack the element of personalisation. Although the result of extensive analysis, the information contained in these notes may contain errors. Under no circumstances can the authors be held liable for any choices made by readers on the basis of such erroneous information.erroneous information. Anyone deciding to carry out any financial transaction on the basis of the information contained in the site does so assuming full responsibility.
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