VISTA Theme for year 2019 - Indonesia Jarkata Composite Index Chart Analysis

Indonesia Jarkata Composite index (JCI) is part of VISTA theme that has seen a sell off rout in year 2018 on the backdrop of rising US dollar, rising Treasury yields and emerging markets BRIC and VISTA had their currencies weakening, and stock indexes steep correction.

Emerging markets theme BRIC comprising Brazil, Russia, India and China while VISTA theme comprising Vietnam, Indonesia, South Africa, Turkey and Argentina.

Turkey part of VISTA is said to have maintain a high US dollar denominated debt.

https://www.marketwatch.com/story/3-reasons-why-the-selloff-in-turkeys-lira-matters-to-global-markets-2018-08-10

https://www.marketwatch.com/story/how-the-lira-selloff-compares-to-turkeys-previous-crises-2018-08-14

https://www.cnbc.com/2018/08/13/turkey-lira-crisis-knocks-emerging-market-currencies-to-multi-year-low.html

https://www.straitstimes.com/world/middle-east/turkeys-erdogan-says-attack-on-economy-no-different-from-attack-on-flag

https://en.wikipedia.org/wiki/Turkish_currency_and_debt_crisis,_2018

https://www.google.com.sg/search?q=turkey+sell+off&rlz=1C1CHBF_enSG798SG799&oq=turkey+sell+off&aqs=chrome..69i57j0l2.5299j0j8&sourceid=chrome&ie=UTF-8


With post G20 meeting hosted by Argentina concluded on 30 November to 1 December, it was a successful meeting between USA and China where they had implement trade war tariff truce for 90 days.

https://www.msn.com/en-ca/news/world/a-look-at-what-happened-at-the-g-20-summit-in-argentina/ar-BBQo4La?li=AAgfIYZ

Let us take a look at the charts of VISTA theme attached is Indonesia Jarkata Composite Index (JCI)

We are still at 50th percentile of the bullish market which had many more years to go. Charts display bullish strength where Jarkata Composite Index had seen a retracement correction after hitting 6693 high in January 2018.

Jarkata Composite Index Monthly Chart Historical 7 Dec 2018

Jarkata Composite Index Monthly Chart Historical 7 Dec 2018 with Technical Analysis

Above charts display bullish chart pattern a bullish flag & pennant (horizontal flag) with an upside target of 39 to 40 using the green color y axis line as the benchmark. low 5.34 to 30.28 high difference is 25 dollars, horizontal flag trough is estimated 14 dollars plus 25 equate to 39 dollars, simple mathematics formula to determine price.


Jarkata Composite Index Monthly Chart Historical 7 Dec 2018

Jarkata Composite Index Monthly Chart Historical 7 Dec 2018

JCI is seen moving in a price channel of black color lines connecting all the peaks & troughs with orange color line is the median centre line. It has back tested previous peak around 5450 points and form a support.





Disclaimer: All news, information and charts shared is purely by my research and personal views only. This is not a trading recommendation or advice but on the basis of sharing information and educating the investment community. Different traders and investors adopt different trading strategies and risk management approach hence if in doubt please approach or seek clarifications with your Financial Adviser, Broker and Banker.