SMCB: Short Term Swing

Yes, I know it’s a downtrend.  But even in a downtrend, there’s chances to buy if you care to look.

Now look at above chart.  SMCB just wanted to rebound back to inside it’s 22-day Bollinger Band.  And what’s more, look at the Stochastic (made with K=5 and D=3), it’s fast line (red) is above 15, and slow line (green) is below 15, saying “It’s time to buy me!”

Get a buy at Rp.930-950.  Cut loss at Rp.850.  Target price at around Rp.1,100.

Don’t be greedy, it’s a short-term swing, and remember, manage your risk.  It’s downtrend, where a long position is much more risky than short position!