Indonesia Stocks Moving Average Signals Buy: Technical Analysis
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Indonesia’s stock index, the best performer among Asia’s 10 biggest markets this year, may extend last week’s record high after its moving average graph showed a signal crossover.
The Jakarta Composite index rose 1.6 percent this month to close at a record 3,117.72 on Aug. 20. Its moving average convergence divergence graph, or MACD, on Aug. 19 crossed the nine-day exponential moving average line from below, indicating the rally is sustainable, said Rafdi Prima, a technical analyst at PT Mandiri Sekuritas in Jakarta.