Trading LQ45 Energy Sector Stocks on the Indonesia Stock Exchange: Technical Analysis as a Basis
Abstract
The purpose of this study is to determine the right stock sell signals and buy signals using technical analysis. The indicators used are Candlestick, Bollinger Bands, Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), Stochastic Oscillator (SO), and Parabolic SAR. This research is a descriptive qualitative research using tradingview.com software to obtain secondary data from 8 energy sector companies that were sampled by purposive sampling. The results showed that in the June-December 2023 period, the pattern of stock price movements in the LQ45 energy sector with candlestick indicators often fluctuated and there was a reversal in the stock price trend. The Bollinger Bands indicator shows that the average share price is uptrend then downtrend. MACD and Parabolic SAR indicators show the formation and change in the trend of stock price movements and can show sell signals and stock buy signals. RSI and SO show overbought levels and oversold levels.
References
Aladini College of Economics Bima, A., & Nurulrahmatia College of Economics Bima, N. (n.d.). The Effect Of Capital Gain And Division Of Dividends On Share Trading Volume In Pt. Unilever Indonesia Tbk. In Balance: Journal of Economics (Vol. 17).
Cahyadi, Y. (n.d.). Candlestick Chart Pattern Analysis...... (Yoyo Cahyadi) Candlestick Chart Pattern Analysis on Eur/Usd Movement.
Choirotul Mafula, L. (n.d.). Technical Analysis as a Basis for Decision Making in Stock Trading on the Indonesia Stock Exchange (Study on IDX30 Index Period August 2014-January 2015).
Damayanti, M., Rizki, W., & Perdana, H. (2020). Technical Analysis of Online Gold Trading Investment with Stochastic Oscillator. In Scientific Bulletin of Math. Stat. and its Applications (Bimaster) (Vol. 09, Issue 1).
Farild, M., Izzulhaq Sawaji, M., & Poddala, P. (2023). Technical analysis as a basis for decision making in stock transactions (Vol. 25).
Firdaus, R. G. (2021). Technical Analysis of Stocks Using the RSI and Bollinger Bands Indicators on Construction Stocks. Journal of Capital Markets and Business, 3(1), 15-26. https://doi.org/10.37194/jpmb.v3i1.60
Haibah, N. N., & Susilo, E. (n.d.). Journal of Islamic Economic Recognition Analysis of Islamic Stock Investment with Fibonacci Ratio and Fuzzy Logic. 2(1), 73-85. https://doi.org/10.34001/jrei.v2i01.506
Mahendra, K., Satyahadewi, N., & Perdana, H. (2022). Technical Analysis of Stocks Using the Moving Average Convergence Divergence (Macd) Indicator. In Scientific Bulletin of Math. Stat. and its Applications (Bimaster) (Vol. 11, Issue 1).
Martia, D. Y., & Yasmine, N. I. (2021). Simple Moving Average and Relative Strenght Index indicators to determine buy and sell signals for stocks in the infrastructure sector. Journal of Capital Markets and Business, 3(1), 27-38. https://doi.org/10.37194/jpmb.v3i1.67
Muhamad Aldin Hidayat. (2022). Technical Analysis of Stock Price Movements with Candlestick Indicators, Moving Average, and Stochastic Oscillator. Journal of Management and Business Research, 36-42. https://doi.org/10.29313/jrmb.v2i1.906
Muis, I. S., Prajawati, M. I., & S, B. (2021). Technical Analysis of Stock Returns with Bollinger Band, Parabolic SAR, and Stochastic Oscillator Indicators. Samudra Journal of Economics and Business, 12(2), 143-153. https://doi.org/10.33059/jseb.v12i2.2467
Nafis, A. A., Lestari, D. S., & Amaroh, S. (n.d.). Journal of Islamic Economic Recognition Analysis of Share Price Valuation of PT Bank Syariah Indonesia Tbk Based on Technical Analysis. 2(02), 17-26. https://doi.org/10.34001/jrei.v2i02.637
Nasih, A. C., & Ridloah, S. (2021). Comparative Analysis of the Use of MACD, Moving Average, and Stochastic Methods in Profit Optimization. Journal of Capital Markets and Business, 3(1), 123-132. https://doi.org/10.37194/jpmb.v3i1.61
Nuzula Agustin, I., Hesniati, H., Nopry, N., Alvin, A., Steven, A., Tri Sagianto, I., & Devin, D. (2023). Comparison of Accuracy of Technical Analysis, SMA and Bollinger Band in Estimating USDIDR Forex Market. JAMBURA, 6(2). http://ejurnal.ung.ac.id/index.php/JIMB
Prasetyo, P., Laely, N., & Subagyo, H. (2019). Comparative Analysis of the Use of Stochastic, Moving Average and MACD Methods in Obtaining Optimal and Shar'i Profits (Study on the Jakarta Islamic Index 2016 - 2018). JIMEK: Scientific Journal of Economics Students, 2(1), 52. https://doi.org/10.30737/jimek.v2i1.414
Rosyidah, N., & Hafi, R. U. (2021). Technical Analysis of MACD, RSI, SO, and Buy and Hold to Achieve Optimal Return on JII30 Stocks on the Indonesia Stock Exchange. Journal of Capital Markets and Business, 3(1), 75-88. https://doi.org/10.37194/jpmb.v3i1.66
Soemapradja, T. G. (2010). Simulation of Stock Trading Pt Tambang Batubara Bukit Asam, Tbk. With Macd and Williams % Range. In Binus Business Review (Vol. 1, Issue 2).
Suryanto, S., Padjadjaran, U., Soekarno, J. K., Sumedang, J., & West Indonesia, J. (2021). Technical Analysis Using Moving Average Convergence-Divergence and Relative Strength Index on Banking Stocks Management Study Program Faculty of Economics and Business, Universitas Komputer Indonesia Bandung. In Journal of Finance and Banking Science (JIKA (Vol. 11, Issue 1).
www.bi.go.id
www.idx.co.id
www.tradingview.com
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Kelly Fatma Bella, Lusiawati Lusiawati
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
