Documente Academic
Documente Profesional
Documente Cultură
INSTITUTE OF
TECHOLOGY
INVESTMENT
ANALYSIS REPORTT
CHAPTER 2:
MACROECONOMIC AND
INDUSTRY ANALYSIS
MACROECONOMIC OUTLOOK
INDUSTRY ANALYSIS
CHAPTER 4: PORTFOLIO
ANALYSIS
PORTFOLIO ANALYSIS
BETA ANALYSIS USING CAPM
CHAPTER 5: MARKET
EFFICIENCY ANALYSIS
WEAK FORM TEST - RUNS TEST
SEMI-STRONG TEST - AR TEST
STRONG TEST
PULP, PAPER AND ALLIED As we can see at the graph, the Pulp price is
PRODUCT PRICE rising for the last 2 years. The rising of the
250 price indicates the rise in demand. It
200 legitimates the fact that the world in need of
PRICE (US$)
150
wood pulp.
100
DATE
Years
The oil price had suffered the falling down until year 2016, but since then it was beginning to gradually
rise again from around US$30,- per barrel to US$65,- per barrel today.
According to the analysis of paper industry and oil industry above, we decide to choose the stock of PT
Tjiwi Kimia (TKIM) and PT Elnusa (ELSA).
Analysis:
As we can see at the graph, TKIM price has faced many conditions. It faced two times double bottom
which is at the middle of October 2018 & middle of November 2018 and at the middle of December 2018
& the middle February 2019. If we see the chart, it’s now going down and already breaks moving average-
120, since it has two times double bottom and already break down the MA-120, we could expect this
stock will go down even more.
Target Buying:
According to the graph, I would prefer to put the target buying at the price around Rp9500,- to Rp11.000,.
Target Selling:
The target price of selling will be around Rp13.000,- to Rp14.000,- since the price itself has increase and
turn down twice at that range of price.
Target Cut Loss:
Since the standard deviation of return is 8% (Will be discussed later), then we will cut loss when the price
is moving down 8%.
Analysis:
ELSA’s price faced two times double bottom which is at the middle of June 2018 & middle of November
2018. After that, it’s moving very slowly until it reached the price at range Rp370,- to Rp400. At February
2019. Since then, it moves sideways until today. The sideways chart forms a “Bearish Symmetric
Triangle” which we can expect after that it will go down deeper or maybe it could bull even more.
Target Buying:
Since right now the price is moving sideways, then we could only wait and see the next move, and if it is
to go down after this moment, we will put our target buy at the price range of Rp300,- to Rp315,-
Target Selling:
This stock actually has very slow movement and quite long cycle, moreover the price is very low. Since
the expected return of this stock is 4,14% per week, I prefer to hold this stock for longer period until it
delivers the return above 12%.
Target Cut Loss:
The standard deviation of this stock is very low which is only 4%, according to this information, I would
put the cut-loss when the price is went down more than 4%.
3.2. Fundamental Analysis
3.2.1. Liquidity
1
than 1 and quite stable, meaning
0,5
company can pay all short term
0 liabilities with its own current assets
12M 12M 12M 12M 12M
2014 2015 2016 2017 2018
YEAR
3.2.2. Profitability
TKIM Profitability The profitability of TKIM is very
25% great. The Profit margin, ROA and
ROE are enormously increased for
20%
the last 3 years. The jump in ROA
15% and ROE is also reflected in the
jump in stock price, meaning the
10%
market adjust it very quickly.
5%
0%
12M 2014 12M 2015 12M 2016 12M 2017 12M 2018
YEAR
ELSA MARKETABILITY
The PBV and PE of ELSA is
PBV PE
relatively high comparing to its
amount in 2015. But it’s going 14
12
down for since 2017, so we could 10
YEAR
If we see here at ELSA’s foreign Foreign Accumulation For ELSA Since March 2017
accumulation chart, we could se that the
300.000.000
foreign accumulation started to rise 250.000.000
since September 2017, and started to 200.000.000
decline at June 2018. Comparing with 150.000.000
Volume
(50.000.000)
around September 2017. So the
(100.000.000)
regression result between foreign net (150.000.000)
buying/selling to ELSA’s return is Date
consistent with ELSA’s price.
Different from ELSA, the regression Foreign Accumulation For TKIM Since March 2017
result for TKIM’s foreign net 2.000.000.000
buying/selling doesn’t show significant
1.500.000.000
effect to the return. However as foreign
investors started to accumulate the 1.000.000.000
Volume
TKIM stock at September 2018, the
500.000.000
stock price was actually started to rise
significantly at around March 2018. -
03/01/2017 03/01/2018 03/01/2019
However, since the regression result (500.000.000)
doesn’t show the significant effect from
foreign activity to TKIM return, (1.000.000.000)
Date
hypothetically said the increase of price
is because something else.
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Accumulated Inventory
18/04/2019 10.075 - 400 3,81 1.988 10.243 10.508.637 3.746.172 4.421.687 - 675.515 1.697.902.187
16/04/2019 10.475 - 25 0,23 527 4.583 4.779.955 1.647.312 1.477.800 169.512 1.698.577.702
15/04/2019 10.500 - 50 0,47 1.503 8.881 9.371.650 3.376.687 5.473.862 - 2.097.175 1.698.408.190
12/04/2019 10.550 + 225 2,17 1.199 6.237 6.526.072 4.551.277 2.615.342 1.935.935 1.700.505.365
11/04/2019 10.325 - 275 2,59 1.796 10.592 11.015.625 7.423.597 8.699.382 - 1.275.785 1.698.569.430
10/04/2019 10.600 + 75 0,71 1.562 8.189 8.586.962 6.786.032 2.914.237 3.871.795 1.699.845.215
09/04/2019 10.525 + 225 2,18 2.326 17.308 18.080.835 12.060.595 10.380.970 1.679.625 1.695.973.420
08/04/2019 10.300 - 0 1.659 15.002 15.299.075 9.658.825 4.839.522 4.819.303 1.694.293.795
05/04/2019 10.300 - 0 1.768 12.760 13.041.052 3.782.885 1.029.422 2.753.463 1.689.474.492
04/04/2019 10.300 - 600 5,5 1.854 17.031 17.759.747 8.703.667 1.354.435 7.349.232 1.686.721.029
02/04/2019 10.900 + 25 0,22 1.028 8.943 9.722.765 5.646.942 1.538.335 4.108.607 1.679.371.797
01/04/2019 10.875 - 150 1,36 1.791 13.354 14.301.362 5.599.730 3.521.395 2.078.335 1.675.263.190
29/03/2019 11.025 - 625 5,36 2.649 27.293 30.270.840 8.974.555 7.068.547 1.906.008 1.673.184.855
28/03/2019 11.650 + 425 3,78 1.642 11.504 13.236.645 6.789.885 915.455 5.874.430 1.671.278.847
27/03/2019 11.225 - 300 2,6 1.178 8.018 9.072.885 4.315.327 4.703.612 - 388.285 1.665.404.417
26/03/2019 11.525 + 175 1,54 1.545 11.773 13.306.512 6.251.065 764.957 5.486.108 1.665.792.702
25/03/2019 11.350 - 400 3,4 1.762 16.803 19.042.817 7.075.850 3.348.872 3.726.978 1.660.306.594
22/03/2019 11.750 - 125 1,05 996 9.528 11.198.722 5.617.467 971.235 4.646.232 1.656.579.616
21/03/2019 11.875 + 50 0,42 1.157 7.170 8.495.035 4.513.527 1.366.925 3.146.602 1.651.933.384
20/03/2019 11.825 - 75 0,63 2.990 25.372 30.040.465 11.713.055 3.820.987 7.892.068 1.648.786.782
19/03/2019 11.900 + 500 4,38 2.268 29.451 34.034.172 3.426.472 2.276.252 1.150.220 1.640.894.714
18/03/2019 11.400 + 400 3,63 1.949 28.284 31.839.197 6.045.662 2.850.222 3.195.440 1.639.744.494
15/03/2019 11.000 + 575 5,51 1.989 41.934 45.693.837 19.831.745 17.174.347 2.657.398 1.636.549.054
14/03/2019 10.425 + 600 6,1 2.612 25.798 26.470.762 11.424.665 7.826.780 3.597.885 1.633.891.656
13/03/2019 9.825 - 400 3,91 2.000 22.512 22.176.662 7.639.200 2.660.930 4.978.270 1.630.293.771
12/03/2019 10.225 - 675 6,19 2.320 22.761 23.630.380 1.668.167 3.391.572 - 1.723.405 1.625.315.501
11/03/2019 10.900 - 125 1,13 1.221 11.272 12.348.412 5.688.740 5.222.652 466.088 1.627.038.906
08/03/2019 11.025 + 25 0,22 1.212 7.667 8.404.655 5.048.280 1.956.000 3.092.280 1.626.572.818
06/03/2019 11.000 + 75 0,68 1.245 19.252 21.185.537 17.391.460 1.634.130 15.757.330 1.623.480.538
05/03/2019 10.925 - 300 2,67 2.567 18.447 20.294.835 9.629.602 6.861.527 2.768.075 1.607.723.208
04/03/2019 11.225 + 75 0,67 2.121 14.695 16.466.262 8.929.652 3.100.495 5.829.157 1.604.955.133
01/03/2019 11.150 - 25 0,22 2.428 16.448 18.304.472 7.792.412 3.759.375 4.033.037 1.599.125.976
28/02/2019 11.175 - 0 5.095 90.242 98.506.532 54.906.960 40.005.265 14.901.695 1.595.092.939
27/02/2019 11.175 - 175 1,54 3.262 32.188 35.752.252 4.936.602 21.588.387 - 16.651.785 1.580.191.244
26/02/2019 11.350 - 250 2,15 1.798 16.624 18.891.485 5.445.615 12.502.410 - 7.056.795 1.596.843.029
25/02/2019 11.600 + 100 0,86 2.500 16.437 18.846.847 5.148.912 4.546.675 602.237 1.603.899.824
22/02/2019 11.500 - 275 2,33 1.803 13.496 15.606.370 4.921.242 5.119.932 - 198.690 1.603.297.587
21/02/2019 11.775 + 75 0,64 1.894 13.046 15.269.792 9.312.220 3.198.412 6.113.808 1.603.496.277
20/02/2019 11.700 + 150 1,29 3.007 20.573 23.877.355 8.860.157 5.137.837 3.722.320 1.597.382.469
19/02/2019 11.550 + 125 1,09 1.987 13.819 15.999.175 4.932.227 3.881.607 1.050.620 1.593.660.149
18/02/2019 11.425 + 225 2 2.593 22.026 25.106.930 8.626.520 6.273.855 2.352.665 1.592.609.529
15/02/2019 11.200 - 600 5,08 2.553 29.562 33.707.885 9.859.247 9.361.167 498.080 1.590.256.864
14/02/2019 11.800 - 500 4,06 2.719 25.354 30.395.022 5.729.067 3.103.835 2.625.232 1.589.758.784
13/02/2019 12.300 - 25 0,2 1.683 15.519 19.238.325 5.725.005 2.592.507 3.132.498 1.587.133.552
12/02/2019 12.325 - 350 2,76 2.177 23.607 29.259.937 8.278.650 3.734.982 4.543.668 1.584.001.054
11/02/2019 12.675 - 175 1,36 1.452 12.507 15.980.832 5.128.757 2.686.317 2.442.440 1.579.457.386
08/02/2019 12.850 - 625 4,63 2.664 36.474 47.471.155 13.771.647 6.860.512 6.911.135 1.577.014.946
07/02/2019 13.475 + 25 0,18 1.575 14.316 19.181.782 10.486.532 4.637.572 5.848.960 1.570.103.811
06/02/2019 13.450 + 400 3,06 2.952 27.015 36.331.107 24.324.340 9.987.715 14.336.625 1.564.254.851
04/02/2019 13.050 - 375 2,79 2.342 30.105 40.200.322 13.082.592 4.724.515 8.358.077 1.549.918.226
01/02/2019 13.425 - 50 0,37 3.022 38.950 52.338.292 21.985.300 6.636.282 15.349.018 1.541.560.149
31/01/2019 13.475 - 275 2 5.338 85.225 117.576.397 28.386.127 28.222.720 163.407 1.526.211.131
30/01/2019 13.750 + 150 1,1 3.352 37.942 51.903.227 24.001.702 18.562.597 5.439.105 1.526.047.724
29/01/2019 13.600 - 0 4.092 41.587 56.673.327 17.263.230 14.423.575 2.839.655 1.520.608.619
28/01/2019 13.600 + 450 3,42 4.814 86.295 115.948.697 27.041.637 10.605.060 16.436.577 1.517.768.964
25/01/2019 13.150 + 75 0,57 2.986 35.252 46.255.367 20.144.737 10.526.257 9.618.480 1.501.332.387
24/01/2019 13.075 + 175 1,35 3.433 57.139 74.416.245 38.642.725 15.216.070 23.426.655 1.491.713.907
23/01/2019 12.900 + 200 1,57 3.425 29.147 37.413.725 20.390.890 4.322.927 16.067.963 1.468.287.252
22/01/2019 12.700 + 25 0,19 2.062 21.375 26.996.427 16.471.115 6.514.997 9.956.118 1.452.219.289
21/01/2019 12.675 - 200 1,55 4.613 62.155 79.790.500 9.651.887 11.981.642 - 2.329.755 1.442.263.171
18/01/2019 12.875 + 75 0,58 3.138 35.093 44.331.480 24.396.520 2.888.532 21.507.988 1.444.592.926
17/01/2019 12.800 - 25 0,19 4.655 43.824 56.593.422 16.439.942 8.351.865 8.088.077 1.423.084.938
16/01/2019 12.825 - 25 0,19 3.133 36.546 46.679.877 17.144.460 8.828.502 8.315.958 1.414.996.861
15/01/2019 12.850 + 625 5,11 3.837 59.485 74.377.320 23.104.837 5.451.327 17.653.510 1.406.680.903
14/01/2019 12.225 - 200 1,6 3.048 31.117 37.722.580 12.307.125 2.221.895 10.085.230 1.389.027.393
11/01/2019 12.425 + 25 0,2 4.509 43.834 54.388.930 14.435.472 5.849.955 8.585.517 1.378.942.163
10/01/2019 12.400 + 700 5,98 6.052 73.479 89.073.822 15.879.045 7.209.097 8.669.948 1.370.356.646
09/01/2019 11.700 + 450 4 3.898 52.166 60.412.475 18.480.815 6.030.955 12.449.860 1.361.686.698
08/01/2019 11.250 - 50 0,44 2.539 24.747 28.009.620 14.562.982 10.221.412 4.341.570 1.349.236.838
07/01/2019 11.300 - 100 0,87 2.746 21.199 24.178.607 5.628.382 2.117.712 3.510.670 1.344.895.268
04/01/2019 11.400 + 375 3,4 4.315 42.077 46.923.447 25.419.085 6.031.462 19.387.623 1.341.384.598
03/01/2019 11.025 + 75 0,68 1.846 13.096 14.404.120 10.721.742 2.234.642 8.487.100 1.321.996.975
02/01/2019 10.950 - 150 1,35 1.587 11.924 13.111.787 9.174.805 990.510 8.184.295 1.313.509.875
28/12/2018 11.100 - 0 1.419 19.087 21.109.497 14.615.465 458.712 14.156.753 1.305.325.580
Appendix 4
TKIM - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Accumulated Inventory
27/12/2018 11.100 + 300 2,77 2.510 29.523 32.583.197 20.467.882 5.285.385 15.182.497 1.291.168.827
26/12/2018 10.800 - 175 1,59 1.624 14.213 15.337.215 6.274.910 3.210.770 3.064.140 1.275.986.330
21/12/2018 10.975 - 250 2,22 3.074 43.069 47.090.832 22.813.980 23.143.062 - 329.082 1.272.922.190
20/12/2018 11.225 + 150 1,35 2.999 30.521 33.861.332 17.522.695 5.379.695 12.143.000 1.273.251.272
19/12/2018 11.075 - 25 0,22 3.867 35.067 38.954.655 8.194.112 8.150.997 43.115 1.261.108.272
18/12/2018 11.100 + 375 3,49 4.859 47.986 52.288.882 23.492.690 14.270.130 9.222.560 1.261.065.157
17/12/2018 10.725 - 225 2,05 3.825 45.625 48.623.875 7.822.240 12.328.255 - 4.506.015 1.251.842.597
14/12/2018 10.950 - 575 4,98 3.918 38.567 43.007.420 8.267.600 10.805.630 - 2.538.030 1.256.348.612
13/12/2018 11.525 + 75 0,65 5.368 67.690 78.195.257 13.317.125 17.894.550 - 4.577.425 1.258.886.642
12/12/2018 11.450 + 925 8,78 5.428 86.076 95.445.030 34.206.810 19.416.887 14.789.923 1.263.464.067
11/12/2018 10.525 - 200 1,86 4.874 41.224 43.592.022 22.212.447 21.711.810 500.637 1.248.674.144
10/12/2018 10.725 + 25 0,23 3.731 42.853 45.940.257 22.947.582 15.548.535 7.399.047 1.248.173.507
07/12/2018 10.700 - 0 3.771 42.378 45.525.320 14.563.570 8.826.860 5.736.710 1.240.774.460
06/12/2018 10.700 - 800 6,95 9.635 100.925 110.257.492 17.002.717 33.353.575 - 16.350.858 1.235.037.750
05/12/2018 11.500 - 300 2,54 5.713 54.228 62.349.630 21.024.285 20.611.100 413.185 1.251.388.608
04/12/2018 11.800 + 550 4,88 12.283 152.887 176.385.920 59.790.195 75.952.777 - 16.162.582 1.250.975.423
03/12/2018 11.250 - 75 0,66 7.548 150.318 170.254.027 87.419.135 79.664.207 7.754.928 1.267.138.005
30/11/2018 11.325 - 1.025 8,29 15.645 1.068.548 1.215.512.830 964.015.980 616.453.605 347.562.375 1.259.383.077
29/11/2018 12.350 + 350 2,91 11.518 230.036 282.232.892 133.146.360 87.974.895 45.171.465 911.820.702
28/11/2018 12.000 - 1.200 9,09 13.513 229.210 285.432.197 100.144.695 47.018.405 53.126.290 866.649.237
27/11/2018 13.200 - 750 5,37 12.007 252.181 343.385.775 130.893.090 72.143.570 58.749.520 813.522.947
26/11/2018 13.950 + 650 4,88 7.142 152.445 212.422.907 95.776.375 45.348.067 50.428.308 754.773.427
23/11/2018 13.300 + 500 3,9 5.453 107.091 140.476.285 76.093.515 17.031.917 59.061.598 704.345.119
22/11/2018 12.800 + 500 4,06 5.323 120.394 153.290.507 68.095.385 25.850.377 42.245.008 645.283.521
21/11/2018 12.300 - 100 0,8 4.591 99.110 123.532.440 72.453.285 38.273.245 34.180.040 603.038.513
19/11/2018 12.400 + 225 1,84 3.884 73.358 91.065.515 49.668.152 6.411.762 43.256.390 568.858.473
16/11/2018 12.175 + 125 1,03 5.255 114.016 139.111.042 88.131.140 24.344.140 63.787.000 525.602.083
15/11/2018 12.050 - 275 2,23 8.940 174.123 216.221.902 88.702.712 40.603.950 48.098.762 461.815.083
14/11/2018 12.325 + 1.175 10,53 14.377 373.270 451.919.267 160.201.157 128.079.897 32.121.260 413.716.321
13/11/2018 11.150 + 525 4,94 5.872 131.693 143.451.532 53.948.280 17.942.040 36.006.240 381.595.061
12/11/2018 10.625 + 75 0,71 6.353 90.977 97.844.265 50.847.545 18.027.137 32.820.408 345.588.821
09/11/2018 10.550 - 275 2,54 4.207 56.124 59.165.177 26.733.100 23.179.305 3.553.795 312.768.413
08/11/2018 10.825 + 575 5,6 5.929 107.338 114.589.272 44.994.880 18.588.080 26.406.800 309.214.618
07/11/2018 10.250 + 675 7,04 5.588 112.223 113.487.412 50.856.940 3.761.527 47.095.413 282.807.818
06/11/2018 9.575 + 75 0,78 4.695 75.542 72.011.367 27.892.272 2.324.502 25.567.770 235.712.405
05/11/2018 9.500 - 350 3,55 5.660 89.837 86.386.582 25.017.907 1.326.802 23.691.105 210.144.635
02/11/2018 9.850 - 200 1,99 5.694 91.355 91.297.637 20.492.255 6.383.775 14.108.480 186.453.530
01/11/2018 10.050 - 250 2,42 5.084 101.703 106.034.065 18.212.807 7.857.727 10.355.080 172.345.050
31/10/2018 10.300 - 200 1,9 5.637 116.213 123.678.860 20.247.415 13.524.675 6.722.740 161.989.970
30/10/2018 10.500 + 450 4,47 5.184 100.761 103.235.565 16.594.060 25.650.267 - 9.056.207 155.267.230
29/10/2018 10.050 - 350 3,36 5.842 94.426 95.206.820 22.858.697 28.538.640 - 5.679.943 164.323.437
26/10/2018 10.400 - 250 2,34 4.659 48.378 51.147.797 15.125.227 18.525.727 - 3.400.500 170.003.380
25/10/2018 10.650 + 150 1,42 7.104 99.133 104.366.252 33.321.637 11.421.035 21.900.602 173.403.880
24/10/2018 10.500 - 975 8,49 5.866 82.360 90.189.037 30.845.022 8.878.757 21.966.265 151.503.278
23/10/2018 11.475 - 325 2,75 3.268 43.037 49.851.655 14.546.470 12.033.877 2.512.593 129.537.013
22/10/2018 11.800 + 325 2,83 3.800 79.001 91.489.130 25.919.380 25.393.962 525.418 127.024.420
19/10/2018 11.475 - 125 1,07 2.610 53.970 61.890.822 27.546.672 14.313.055 13.233.617 126.499.002
18/10/2018 11.600 + 400 3,57 6.305 105.109 121.569.707 38.565.202 20.005.192 18.560.010 113.265.385
17/10/2018 11.200 + 900 8,73 6.140 123.632 136.769.340 19.255.995 4.932.017 14.323.978 94.705.375
16/10/2018 10.300 + 250 2,48 10.716 239.136 242.072.155 43.743.130 1.232.825 42.510.305 80.381.397
15/10/2018 10.050 - 1.550 13,36 11.408 222.962 235.527.585 42.707.212 3.535.437 39.171.775 37.871.092
12/10/2018 11.600 - 50 0,42 6.914 176.173 202.205.637 31.078.475 2.511.565 28.566.910 - 1.300.683
11/10/2018 11.650 - 1.075 8,44 6.781 96.824 115.879.172 12.852.032 5.954.095 6.897.937 - 29.867.593
10/10/2018 12.725 - 175 1,35 1.768 20.941 26.708.422 2.551.392 5.700.792 - 3.149.400 - 36.765.530
09/10/2018 12.900 + 125 0,97 2.278 40.672 51.978.625 12.487.840 14.566.895 - 2.079.055 - 33.616.130
08/10/2018 12.775 - 225 1,73 2.886 44.394 57.051.732 14.098.910 5.180.607 8.918.303 - 31.537.075
05/10/2018 13.000 + 475 3,79 4.376 95.604 120.478.107 23.094.980 33.926.682 - 10.831.702 - 40.455.378
04/10/2018 12.525 - 775 5,82 6.638 117.890 148.431.700 24.896.272 12.530.292 12.365.980 - 29.623.676
03/10/2018 13.300 + 150 1,14 2.845 33.638 44.530.342 10.873.070 6.709.877 4.163.193 - 41.989.656
02/10/2018 13.150 - 350 2,59 4.561 102.120 134.824.187 20.473.490 37.452.597 - 16.979.107 - 46.152.849
01/10/2018 13.500 - 275 1,99 3.381 74.367 100.679.142 12.247.010 46.522.877 - 34.275.867 - 29.173.742
28/09/2018 13.775 + 75 0,54 2.691 68.400 94.586.890 39.161.082 17.844.580 21.316.502 5.102.125
27/09/2018 13.700 + 250 1,85 4.167 60.060 82.227.730 39.628.400 8.717.647 30.910.753 - 16.214.377
26/09/2018 13.450 - 50 0,37 4.796 76.117 103.447.750 47.859.715 4.987.835 42.871.880 - 47.125.130
25/09/2018 13.500 - 500 3,57 7.195 133.075 179.965.292 60.621.660 67.300.512 - 6.678.852 - 89.997.010
24/09/2018 14.000 - 775 5,24 5.485 68.157 97.227.630 30.987.495 16.721.590 14.265.905 - 83.318.158
21/09/2018 14.775 + 125 0,85 3.835 477.680 705.350.322 658.588.952 484.009.322 174.579.630 - 97.584.063
20/09/2018 14.650 + 50 0,34 4.251 104.639 153.655.470 43.822.480 63.414.407 - 19.591.927 - 272.163.693
19/09/2018 14.600 + 100 0,68 3.768 71.930 104.981.025 38.452.502 32.666.892 5.785.610 - 252.571.766
18/09/2018 14.500 + 75 0,51 3.899 74.407 108.186.670 32.740.705 19.613.990 13.126.715 - 258.357.376
17/09/2018 14.425 - 325 2,2 5.267 105.369 151.402.200 51.638.102 44.129.365 7.508.737 - 271.484.091
14/09/2018 14.750 + 450 3,14 5.213 111.186 162.940.025 27.698.552 37.595.555 - 9.897.003 - 278.992.828
13/09/2018 14.300 + 800 5,92 7.492 171.133 243.036.710 34.707.540 51.257.440 - 16.549.900 - 269.095.825
12/09/2018 13.500 + 425 3,25 4.014 103.747 139.301.467 25.140.570 18.578.905 6.561.665 - 252.545.925
Appendix 4
TKIM - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Accumulated Inventory
10/09/2018 13.075 - 150 1,13 3.374 64.611 84.429.917 23.938.010 16.902.702 7.035.308 - 259.107.590
07/09/2018 13.225 - 125 0,93 3.291 60.619 80.529.030 24.074.162 3.969.382 20.104.780 - 266.142.898
06/09/2018 13.350 + 350 2,69 7.569 126.575 166.127.535 20.439.985 10.377.510 10.062.475 - 286.247.678
05/09/2018 13.000 - 950 6,81 9.917 136.842 177.138.112 25.969.960 9.034.307 16.935.653 - 296.310.153
04/09/2018 13.950 - 0 4.676 66.364 92.029.645 21.216.752 5.115.955 16.100.797 - 313.245.806
03/09/2018 13.950 - 450 3,12 5.227 70.967 99.286.637 16.206.782 17.607.035 - 1.400.253 - 329.346.603
31/08/2018 14.400 - 175 1,2 5.615 75.768 107.304.472 13.879.217 3.514.747 10.364.470 - 327.946.350
30/08/2018 14.575 - 525 3,47 3.592 58.715 86.933.162 28.062.687 11.287.610 16.775.077 - 338.310.820
29/08/2018 15.100 - 200 1,3 5.172 83.183 125.154.052 53.728.840 16.935.560 36.793.280 - 355.085.897
28/08/2018 15.300 - 200 1,29 4.533 49.237 75.856.805 35.410.937 12.954.017 22.456.920 - 391.879.177
27/08/2018 15.500 + 525 3,5 6.880 145.546 225.697.935 45.813.345 34.122.670 11.690.675 - 414.336.097
24/08/2018 14.975 - 175 1,15 3.843 51.341 76.610.080 20.196.922 10.442.942 9.753.980 - 426.026.772
23/08/2018 15.150 - 0 6.231 110.690 167.308.975 32.143.245 28.120.190 4.023.055 - 435.780.752
21/08/2018 15.150 + 1.025 7,25 6.978 116.383 172.582.287 25.122.165 5.394.845 19.727.320 - 439.803.807
20/08/2018 14.125 + 725 5,41 4.408 78.207 109.061.055 19.725.480 10.175.335 9.550.145 - 459.531.127
16/08/2018 13.400 - 575 4,11 4.698 78.196 105.628.195 21.544.477 16.999.337 4.545.140 - 469.081.272
15/08/2018 13.975 - 775 5,25 12.357 221.519 308.638.867 44.168.282 19.222.975 24.945.307 - 473.626.412
14/08/2018 14.750 - 25 0,16 5.250 113.444 168.530.970 31.714.230 6.512.395 25.201.835 - 498.571.719
13/08/2018 14.775 - 975 6,19 7.400 149.446 222.304.205 42.475.890 32.313.865 10.162.025 - 523.773.554
10/08/2018 15.750 - 0 4.252 70.057 110.582.080 17.715.775 8.450.157 9.265.618 - 533.935.579
09/08/2018 15.750 + 200 1,28 8.053 132.761 208.551.350 41.224.882 20.296.940 20.927.942 - 543.201.197
08/08/2018 15.550 + 1.325 9,31 12.934 293.032 451.726.110 32.177.645 29.831.990 2.345.655 - 564.129.139
07/08/2018 14.225 + 50 0,35 3.737 63.419 90.951.332 13.336.675 12.779.510 557.165 - 566.474.794
06/08/2018 14.175 + 325 2,34 2.927 46.443 65.809.115 7.728.080 2.853.990 4.874.090 - 567.031.959
03/08/2018 13.850 - 75 0,53 2.820 51.202 71.870.742 15.230.865 1.840.012 13.390.853 - 571.906.049
02/08/2018 13.925 - 450 3,13 4.273 89.617 125.664.370 18.387.360 41.616.202 - 23.228.842 - 585.296.902
01/08/2018 14.375 - 125 0,86 6.634 100.611 144.557.282 15.799.560 22.065.372 - 6.265.812 - 562.068.060
31/07/2018 14.500 + 750 5,45 10.339 247.754 357.047.855 7.467.060 27.252.290 - 19.785.230 - 555.802.248
30/07/2018 13.750 + 225 1,66 5.587 95.949 132.769.382 8.351.525 8.669.740 - 318.215 - 536.017.018
27/07/2018 13.525 + 750 5,87 6.879 132.235 175.308.932 8.764.612 7.915.152 849.460 - 535.698.803
26/07/2018 12.775 + 100 0,78 6.741 121.687 155.777.995 8.441.697 28.355.837 - 19.914.140 - 536.548.263
25/07/2018 12.675 + 250 2,01 11.925 232.922 289.462.420 14.895.262 18.397.795 - 3.502.533 - 516.634.123
24/07/2018 12.425 - 725 5,51 11.529 184.386 236.975.192 27.804.275 21.949.070 5.855.205 - 513.131.590
23/07/2018 13.150 - 1.200 8,36 10.784 181.825 246.426.745 14.343.307 59.643.540 - 45.300.233 - 518.986.795
20/07/2018 14.350 - 425 2,87 6.032 78.831 113.849.065 12.751.647 23.034.930 - 10.283.283 - 473.686.562
19/07/2018 14.775 + 875 6,29 13.699 254.521 376.738.752 14.135.895 41.916.595 - 27.780.700 - 463.403.279
18/07/2018 13.900 + 500 3,73 4.640 62.974 86.122.422 14.420.752 4.231.725 10.189.027 - 435.622.579
17/07/2018 13.400 - 275 2,01 6.801 107.334 145.470.095 18.841.545 17.547.455 1.294.090 - 445.811.606
16/07/2018 13.675 - 875 6,01 5.036 61.477 85.832.482 8.133.527 289.417 7.844.110 - 447.105.696
13/07/2018 14.550 - 350 2,34 4.636 65.807 97.127.920 8.846.027 8.476.412 369.615 - 454.949.806
12/07/2018 14.900 - 25 0,16 5.171 81.918 124.183.282 3.975.837 22.724.687 - 18.748.850 - 455.319.421
11/07/2018 14.925 + 25 0,16 6.670 116.170 172.503.422 21.582.797 21.754.145 - 171.348 - 436.570.571
10/07/2018 14.900 + 1.500 11,19 9.618 175.263 255.073.907 25.193.245 10.658.797 14.534.448 - 436.399.223
09/07/2018 13.400 + 550 4,28 4.830 103.146 135.942.675 10.441.495 650.575 9.790.920 - 450.933.671
06/07/2018 12.850 - 625 4,63 4.521 52.000 67.883.772 6.946.620 10.032.635 - 3.086.015 - 460.724.591
05/07/2018 13.475 - 100 0,73 5.018 85.418 116.655.827 9.245.832 34.029.990 - 24.784.158 - 457.638.576
04/07/2018 13.575 - 625 4,4 10.662 225.070 289.180.870 12.488.855 20.556.190 - 8.067.335 - 432.854.418
03/07/2018 14.200 - 1.500 9,55 7.041 113.630 163.963.612 9.350.175 681.712 8.668.463 - 424.787.083
02/07/2018 15.700 - 650 3,97 3.125 70.479 112.956.377 1.207.312 40.207.732 - 39.000.420 - 433.455.546
29/06/2018 16.350 - 250 1,5 7.834 112.785 177.666.870 16.975.367 6.271.917 10.703.450 - 394.455.126
28/06/2018 16.600 - 1.275 7,13 6.058 93.875 156.590.070 2.336.500 891.247 1.445.253 - 405.158.576
27/06/2018 17.875 - 25 0,13 2.776 38.146 68.459.237 15.364.757 17.184.260 - 1.819.503 - 406.603.829
26/06/2018 17.900 + 250 1,41 2.530 25.766 45.772.950 12.759.077 6.668.450 6.090.627 - 404.784.326
25/06/2018 17.650 - 350 1,94 3.485 44.068 77.973.160 11.300.837 12.417.157 - 1.116.320 - 410.874.953
22/06/2018 18.000 + 200 1,12 4.976 103.163 186.560.657 41.436.312 27.214.960 14.221.352 - 409.758.633
21/06/2018 17.800 + 800 4,7 5.103 110.405 194.225.962 46.775.202 35.136.397 11.638.805 - 423.979.985
20/06/2018 17.000 + 175 1,04 3.915 78.895 134.273.117 33.503.297 14.982.052 18.521.245 - 435.618.790
08/06/2018 16.825 + 625 3,85 7.042 117.093 198.358.577 19.997.147 19.274.227 722.920 - 454.140.035
07/06/2018 16.200 + 375 2,36 4.504 54.960 87.851.260 5.158.082 8.874.310 - 3.716.228 - 454.862.955
06/06/2018 15.825 - 275 1,7 4.862 63.895 103.651.067 1.510.850 12.508.540 - 10.997.690 - 451.146.727
05/06/2018 16.100 + 1.025 6,79 8.305 148.018 241.252.940 20.480.465 4.426.485 16.053.980 - 440.149.037
04/06/2018 15.075 + 1.875 14,2 8.189 145.458 212.068.815 10.323.197 24.327.570 - 14.004.373 - 456.203.017
31/05/2018 13.200 + 225 1,73 6.107 113.318 146.903.682 2.321.890 24.643.910 - 22.322.020 - 442.198.644
30/05/2018 12.975 - 325 2,44 2.793 44.107 58.519.172 276.925 7.268.270 - 6.991.345 - 419.876.624
28/05/2018 13.300 + 150 1,14 1.805 44.482 59.268.955 362.365 7.074.695 - 6.712.330 - 412.885.279
25/05/2018 13.150 + 75 0,57 2.663 47.607 62.909.082 1.912.737 13.560.255 - 11.647.518 - 406.172.949
24/05/2018 13.075 + 50 0,38 2.522 58.036 76.134.902 2.362.880 20.453.140 - 18.090.260 - 394.525.431
23/05/2018 13.025 + 875 7,2 3.623 84.566 108.047.947 8.629.320 5.572.120 3.057.200 - 376.435.171
22/05/2018 12.150 + 450 3,84 2.460 54.894 65.964.695 5.479.277 2.443.510 3.035.767 - 379.492.371
21/05/2018 11.700 - 300 2,5 2.074 35.715 41.984.200 457.980 1.830.447 - 1.372.467 - 382.528.138
18/05/2018 12.000 - 50 0,41 2.287 46.310 55.667.920 3.974.692 4.419.650 - 444.958 - 381.155.671
17/05/2018 12.050 + 700 6,16 4.870 116.854 139.389.057 4.762.885 11.792.895 - 7.030.010 - 380.710.713
16/05/2018 11.350 + 850 8,09 4.758 112.545 125.418.242 15.612.857 9.341.827 6.271.030 - 373.680.703
15/05/2018 10.500 + 775 7,96 4.536 118.644 121.882.832 8.378.087 9.510.460 - 1.132.373 - 379.951.733
Appendix 4
TKIM - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Accumulated Inventory
14/05/2018 9.725 - 300 2,99 3.678 73.078 71.082.125 1.149.207 19.158.337 - 18.009.130 - 378.819.360
11/05/2018 10.025 - 75 0,74 2.012 36.777 37.203.455 1.668.695 7.416.285 - 5.747.590 - 360.810.230
09/05/2018 10.100 - 225 2,17 4.086 71.765 72.533.297 5.337.485 18.580.280 - 13.242.795 - 355.062.640
08/05/2018 10.325 - 275 2,59 1.653 42.651 44.216.347 60.430 14.958.837 - 14.898.407 - 341.819.845
07/05/2018 10.600 - 25 0,23 1.960 56.047 59.401.977 1.601.897 17.091.000 - 15.489.103 - 326.921.438
04/05/2018 10.625 - 0 2.740 42.724 45.455.915 559.917 2.188.680 - 1.628.763 - 311.432.335
03/05/2018 10.625 + 25 0,23 4.106 85.962 89.694.310 9.146.760 11.189.180 - 2.042.420 - 309.803.572
02/05/2018 10.600 + 300 2,91 5.170 151.508 160.767.742 804.975 20.213.312 - 19.408.337 - 307.761.152
30/04/2018 10.300 + 575 5,91 5.012 116.119 117.198.915 1.352.662 4.020.320 - 2.667.658 - 288.352.815
27/04/2018 9.725 + 175 1,83 3.224 91.551 89.531.052 3.361.830 1.245.757 2.116.073 - 285.685.157
26/04/2018 9.550 - 50 0,52 6.543 160.556 148.358.142 1.946.575 535.560 1.411.015 - 287.801.230
25/04/2018 9.600 - 350 3,51 3.577 102.745 99.530.465 600.877 10.894.795 - 10.293.918 - 289.212.245
24/04/2018 9.950 + 225 2,31 8.466 206.808 201.670.140 261.020 4.115.487 - 3.854.467 - 278.918.327
23/04/2018 9.725 + 925 10,51 7.963 155.911 147.696.740 2.005.365 7.519.482 - 5.514.117 - 275.063.860
20/04/2018 8.800 - 200 2,22 5.085 124.296 112.026.960 4.800.210 3.024.130 1.776.080 - 269.549.743
19/04/2018 9.000 + 1.225 15,75 9.004 251.067 215.491.090 2.582.845 5.903.027 - 3.320.182 - 271.325.823
18/04/2018 7.775 + 875 12,68 5.509 265.552 194.346.417 4.459.222 39.510.725 - 35.051.503 - 268.005.641
17/04/2018 6.900 - 100 1,42 1.691 59.697 41.197.842 3.516.172 9.241.007 - 5.724.835 - 232.954.138
16/04/2018 7.000 + 25 0,35 798 37.853 26.447.045 378.000 1.048.657 - 670.657 - 227.229.303
13/04/2018 6.975 - 125 1,76 1.205 33.086 23.312.975 673.652 1.779.235 - 1.105.583 - 226.558.646
12/04/2018 7.100 + 125 1,79 1.971 69.792 49.217.595 1.557.400 7.185.657 - 5.628.257 - 225.453.063
11/04/2018 6.975 + 225 3,33 1.112 37.518 25.967.400 1.179.480 5.873.757 - 4.694.277 - 219.824.806
10/04/2018 6.750 + 25 0,37 1.376 44.454 30.226.392 1.320.670 1.393.177 - 72.507 - 215.130.529
09/04/2018 6.725 + 25 0,37 2.089 23.219 15.542.557 401.512 2.211.122 - 1.809.610 - 215.058.022
06/04/2018 6.700 - 125 1,83 1.048 21.104 14.226.282 329.882 467.070 - 137.188 - 213.248.412
05/04/2018 6.825 + 100 1,48 1.112 25.669 17.398.320 783.285 1.096.335 - 313.050 - 213.111.224
04/04/2018 6.725 - 175 2,53 1.853 55.879 38.592.757 3.598.090 2.046.500 1.551.590 - 212.798.174
03/04/2018 6.900 - 125 1,77 1.745 53.213 36.527.952 2.209.702 1.120.475 1.089.227 - 214.349.764
02/04/2018 7.025 + 125 1,81 2.035 77.141 54.524.867 554.505 4.932.437 - 4.377.932 - 215.438.991
29/03/2018 6.900 - 100 1,42 4.717 121.643 83.147.047 186.475 1.567.247 - 1.380.772 - 211.061.059
28/03/2018 7.000 + 75 1,08 4.258 139.855 98.507.515 3.651.477 3.532.665 118.812 - 209.680.287
27/03/2018 6.925 + 500 7,78 3.711 143.119 97.490.597 3.723.212 9.443.555 - 5.720.343 - 209.799.099
26/03/2018 6.425 + 100 1,58 1.400 56.633 36.199.760 1.309.882 6.744.490 - 5.434.608 - 204.078.756
23/03/2018 6.325 + 25 0,39 1.901 70.067 43.184.147 688.817 418.200 270.617 - 198.644.148
22/03/2018 6.300 + 125 2,02 2.520 97.264 62.252.932 2.515.305 1.173.977 1.341.328 - 198.914.765
21/03/2018 6.175 + 475 8,33 2.274 118.201 70.438.740 2.247.420 24.177.845 - 21.930.425 - 200.256.093
20/03/2018 5.700 - 0 1.734 77.554 43.595.397 1.383.665 14.452.442 - 13.068.777 - 178.325.668
19/03/2018 5.700 - 375 6,17 2.288 98.400 57.664.145 1.239.835 17.450.375 - 16.210.540 - 165.256.891
16/03/2018 6.075 - 75 1,21 1.621 53.547 33.234.747 7.305.622 1.228.160 6.077.462 - 149.046.351
15/03/2018 6.150 - 25 0,4 1.514 68.653 41.781.695 2.713.587 15.088.760 - 12.375.173 - 155.123.813
14/03/2018 6.175 - 125 1,98 1.623 39.009 24.499.110 682.000 1.320.212 - 638.212 - 142.748.640
13/03/2018 6.300 - 225 3,44 1.794 59.095 37.976.450 440.262 7.754.035 - 7.313.773 - 142.110.428
12/03/2018 6.525 + 25 0,38 1.909 84.592 55.437.710 3.360.572 1.284.872 2.075.700 - 134.796.655
09/03/2018 6.500 - 0 4.150 174.096 112.927.942 5.221.092 51.860.670 - 46.639.578 - 136.872.355
08/03/2018 6.500 + 350 5,69 3.330 90.248 57.350.877 2.881.022 533.127 2.347.895 - 90.232.777
07/03/2018 6.150 - 125 1,99 2.714 81.897 49.853.552 1.134.302 883.180 251.122 - 92.580.672
06/03/2018 6.275 - 50 0,79 2.100 87.547 55.166.465 1.866.102 25.118.382 - 23.252.280 - 92.831.794
05/03/2018 6.325 - 350 5,24 4.500 104.179 67.875.622 524.617 20.988.352 - 20.463.735 - 69.579.514
02/03/2018 6.675 + 25 0,37 3.904 99.448 68.186.257 393.342 4.300.587 - 3.907.245 - 49.115.779
01/03/2018 6.650 + 375 5,97 6.617 176.461 118.815.465 1.238.930 6.359.087 - 5.120.157 - 45.208.534
28/02/2018 6.275 + 1.025 19,52 4.579 154.734 90.761.197 5.510.385 3.851.852 1.658.533 - 40.088.377
27/02/2018 5.250 + 50 0,96 2.904 80.825 43.916.032 451.700 1.457.997 - 1.006.297 - 41.746.910
26/02/2018 5.200 + 520 11,11 3.675 138.544 69.400.375 2.307.082 9.547.256 - 7.240.174 - 40.740.613
23/02/2018 4.680 + 20 0,42 882 40.438 18.936.942 1.139.267 4.475.031 - 3.335.764 - 33.500.439
22/02/2018 4.660 + 50 1,08 1.287 38.821 17.771.753 1.048.944 1.733.824 - 684.880 - 30.164.675
21/02/2018 4.610 + 10 0,21 754 19.429 9.002.981 616.602 1.353.245 - 736.643 - 29.479.795
20/02/2018 4.600 + 10 0,21 1.324 47.852 22.288.053 541.277 2.787.208 - 2.245.931 - 28.743.152
19/02/2018 4.590 + 250 5,76 1.678 77.084 34.808.562 854.983 7.425.889 - 6.570.906 - 26.497.221
15/02/2018 4.340 + 80 1,87 649 22.354 9.664.572 526.861 353.230 173.631 - 19.926.315
14/02/2018 4.260 + 80 1,91 718 13.340 5.638.812 545.092 380.846 164.246 - 20.099.946
13/02/2018 4.180 + 60 1,45 974 19.630 8.177.022 606.637 1.683.562 - 1.076.925 - 20.264.192
12/02/2018 4.120 + 140 3,51 603 20.393 8.273.344 709.136 157.075 552.061 - 19.187.267
09/02/2018 3.980 - 160 3,86 1.234 52.807 21.046.580 380.320 172.205 208.115 - 19.739.328
08/02/2018 4.140 - 100 2,35 755 18.045 7.448.649 360.778 21.114 339.664 - 19.947.443
07/02/2018 4.240 + 10 0,23 1.534 48.810 20.935.751 194.445 1.457.743 - 1.263.298 - 20.287.107
06/02/2018 4.230 - 270 6 3.355 131.741 54.456.414 2.535.866 323.258 2.212.608 - 19.023.809
05/02/2018 4.500 - 130 2,8 1.581 49.136 22.058.410 3.273.576 1.301.439 1.972.137 - 21.236.417
02/02/2018 4.630 - 220 4,53 2.006 65.127 30.378.755 1.267.003 343.127 923.876 - 23.208.554
01/02/2018 4.850 + 130 2,75 2.420 70.533 34.220.763 4.265.186 3.072.991 1.192.195 - 24.132.430
31/01/2018 4.720 + 160 3,5 2.268 161.601 74.611.392 1.326.192 35.536.404 - 34.210.212 - 25.324.625
30/01/2018 4.560 - 30 0,65 1.523 61.628 28.164.669 1.862.132 135.642 1.726.490 8.885.587
29/01/2018 4.590 - 60 1,29 2.703 75.151 34.548.634 2.418.989 305.616 2.113.373 7.159.097
26/01/2018 4.650 + 50 1,08 1.246 29.230 13.612.802 702.096 639.377 62.719 5.045.724
25/01/2018 4.600 + 190 4,3 1.646 71.690 32.391.967 2.011.563 1.644.254 367.309 4.983.005
Appendix 4
TKIM - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Accumulated Inventory
24/01/2018 4.410 + 30 0,68 1.726 49.648 21.593.067 455.825 1.352.750 - 896.925 4.615.696
23/01/2018 4.380 + 280 6,82 2.253 79.142 33.670.706 889.078 560.758 328.320 5.512.621
22/01/2018 4.100 + 190 4,85 2.479 92.295 37.433.616 2.821.103 3.947.093 - 1.125.990 5.184.301
19/01/2018 3.910 + 280 7,71 2.679 115.967 44.589.187 697.930 1.187.900 - 489.970 6.310.291
18/01/2018 3.630 + 40 1,11 821 47.405 17.051.420 165.370 843.245 - 677.875 6.800.261
17/01/2018 3.590 + 60 1,69 2.423 116.952 41.594.239 105.000 4.200.526 - 4.095.526 7.478.136
16/01/2018 3.530 + 350 11 1.951 88.241 29.624.713 514.926 4.286.450 - 3.771.524 11.573.662
15/01/2018 3.180 + 20 0,63 847 72.232 22.873.453 336.432 10.724.080 - 10.387.648 15.345.186
12/01/2018 3.160 + 30 0,95 1.332 90.606 28.855.892 859.649 7.895.450 - 7.035.801 25.732.834
11/01/2018 3.130 + 90 2,96 1.443 84.654 26.425.443 543.722 2.498.422 - 1.954.700 32.768.635
10/01/2018 3.040 + 40 1,33 269 32.203 9.688.875 207.991 6.853.879 - 6.645.888 34.723.335
09/01/2018 3.000 - 20 0,66 306 17.334 5.201.910 427.784 3.612.059 - 3.184.275 41.369.223
08/01/2018 3.020 - 20 0,65 585 11.137 3.361.588 219.856 763.594 - 543.738 44.553.498
05/01/2018 3.040 + 60 2,01 1.095 65.126 19.815.589 1.649.180 9.991.434 - 8.342.254 45.097.236
04/01/2018 2.980 - 0 237 6.188 1.829.180 24.681 133.398 - 108.717 53.439.490
03/01/2018 2.980 + 10 0,33 338 7.231 2.137.982 161.923 626.875 - 464.952 53.548.207
02/01/2018 2.970 + 50 1,71 405 8.926 2.656.683 290.258 19.305 270.953 54.013.159
29/12/2017 2.920 + 20 0,68 277 10.335 3.001.035 196.651 - 196.651 53.742.206
28/12/2017 2.900 - 70 2,35 574 14.537 4.220.353 149.602 166.442 - 16.840 53.545.555
27/12/2017 2.970 - 80 2,62 450 15.130 4.507.257 247.152 3.588 243.564 53.562.395
22/12/2017 3.050 - 0 226 5.207 1.595.301 240.026 149.032 90.994 53.318.831
21/12/2017 3.050 + 40 1,32 332 8.310 2.519.388 744.221 - 744.221 53.227.837
20/12/2017 3.010 - 90 2,9 504 12.493 3.808.590 339.969 1.184.821 - 844.852 52.483.616
19/12/2017 3.100 + 30 0,97 662 18.880 5.869.292 317.399 1.125.710 - 808.311 53.328.468
18/12/2017 3.070 + 60 1,99 866 40.411 12.376.126 1.092.363 58.741 1.033.622 54.136.779
15/12/2017 3.010 + 70 2,38 1.030 60.220 17.963.143 8.670.259 191.523 8.478.736 53.103.157
14/12/2017 2.940 + 50 1,73 651 27.972 8.163.639 304.408 253.808 50.600 44.624.421
13/12/2017 2.890 + 110 3,95 936 32.103 9.153.715 281.412 7.250 274.162 44.573.821
12/12/2017 2.780 - 70 2,45 654 21.459 5.937.638 347.590 74.120 273.470 44.299.659
11/12/2017 2.850 - 100 3,38 631 60.951 17.581.737 1.572.924 212.003 1.360.921 44.026.189
08/12/2017 2.950 + 10 0,34 386 12.023 3.543.611 269.288 112.615 156.673 42.665.268
07/12/2017 2.940 + 110 3,88 1.032 49.785 14.668.518 184.242 56.692 127.550 42.508.595
06/12/2017 2.830 + 50 1,79 763 28.965 8.003.029 382.490 26.682 355.808 42.381.045
05/12/2017 2.780 - 210 7,02 1.957 93.646 25.647.927 349.766 680.321 - 330.555 42.025.237
04/12/2017 2.990 - 180 5,67 904 25.590 7.810.945 258.429 359.825 - 101.396 42.355.792
30/11/2017 3.170 - 50 1,55 927 38.965 12.715.113 324.558 484.384 - 159.826 42.457.188
29/11/2017 3.220 + 150 4,88 939 37.902 11.863.857 405.915 31.800 374.115 42.617.014
28/11/2017 3.070 + 80 2,67 3.144 128.871 39.054.086 132.010 565.526 - 433.516 42.242.899
27/11/2017 2.990 - 560 15,77 2.064 79.150 25.195.974 2.024.036 650.507 1.373.529 42.676.415
24/11/2017 3.550 - 60 1,66 319 8.720 3.110.960 165.846 117.999 47.847 41.302.886
23/11/2017 3.610 - 30 0,82 329 15.247 5.533.104 874.684 94.113 780.571 41.255.039
22/11/2017 3.640 - 0 317 10.626 3.868.540 - 255.590 - 255.590 40.474.468
21/11/2017 3.640 - 50 1,35 430 16.093 5.874.750 54.350 66.547 - 12.197 40.730.058
20/11/2017 3.690 + 30 0,81 334 9.063 3.347.619 67.721 247.594 - 179.873 40.742.255
17/11/2017 3.660 - 80 2,13 760 19.968 7.367.338 - 2.180.873 - 2.180.873 40.922.128
16/11/2017 3.740 - 20 0,53 468 13.858 5.221.837 173.355 112.102 61.253 43.103.001
15/11/2017 3.760 - 10 0,26 1.212 31.258 11.931.533 1.765.759 625.529 1.140.230 43.041.748
14/11/2017 3.770 + 60 1,61 472 13.634 5.048.870 14.720 267.909 - 253.189 41.901.518
13/11/2017 3.710 - 50 1,32 520 10.314 3.841.685 75.207 238.619 - 163.412 42.154.707
10/11/2017 3.760 + 30 0,8 1.086 51.896 19.685.240 1.842.471 3.397.560 - 1.555.089 42.318.119
09/11/2017 3.730 - 30 0,79 1.995 57.341 21.503.620 1.279.005 1.151.448 127.557 43.873.208
08/11/2017 3.760 + 120 3,29 1.314 58.615 21.733.991 3.111.325 418.706 2.692.619 43.745.651
07/11/2017 3.640 + 90 2,53 1.277 41.872 15.238.507 2.010.510 455.595 1.554.915 41.053.032
06/11/2017 3.550 + 370 11,63 2.272 90.774 31.100.030 9.283.898 1.495.945 7.787.953 39.498.117
03/11/2017 3.180 + 200 6,71 1.071 62.940 19.643.500 6.309.906 161.704 6.148.202 31.710.164
02/11/2017 2.980 - 70 2,29 821 33.929 10.260.781 22.036 58.371 - 36.335 25.561.962
01/11/2017 3.050 + 150 5,17 940 41.326 12.498.925 563.804 - 563.804 25.598.297
31/10/2017 2.900 - 140 4,6 776 33.036 9.828.035 59.707 713.648 - 653.941 25.034.493
30/10/2017 3.040 - 80 2,56 934 78.033 23.875.132 2.404.526 1.458.846 945.680 25.688.434
27/10/2017 3.120 - 10 0,31 868 46.519 14.465.927 243.291 - 243.291 24.742.754
26/10/2017 3.130 - 120 3,69 936 36.351 11.594.734 926.115 172.397 753.718 24.499.463
25/10/2017 3.250 + 80 2,52 777 57.223 18.535.761 505.269 33.237 472.032 23.745.745
24/10/2017 3.170 + 50 1,6 455 22.060 6.901.088 384.031 4.665 379.366 23.273.713
23/10/2017 3.120 - 30 0,95 578 25.545 7.884.634 277.716 332.448 - 54.732 22.894.347
20/10/2017 3.150 - 0 598 28.288 8.834.774 351.182 301.324 49.858 22.949.079
19/10/2017 3.150 - 70 2,17 1.354 41.311 13.203.511 341.235 298.012 43.223 22.899.221
18/10/2017 3.220 + 130 4,2 795 36.601 11.697.423 1.490.203 453.000 1.037.203 22.855.998
17/10/2017 3.090 - 40 1,27 581 20.890 6.508.081 63.747 249.732 - 185.985 21.818.795
16/10/2017 3.130 + 60 1,95 1.103 77.722 24.292.995 1.278.066 453.825 824.241 22.004.780
13/10/2017 3.070 + 70 2,33 1.613 69.639 21.336.726 151.553 146.400 5.153 21.180.539
12/10/2017 3.000 + 260 9,48 2.798 108.668 31.531.564 1.011.925 342.610 669.315 21.175.386
11/10/2017 2.740 + 280 11,38 1.428 76.198 19.852.172 3.598.520 1.668.687 1.929.833 20.506.071
10/10/2017 2.460 - 80 3,14 1.225 69.151 16.799.870 1.473.791 6.089.564 - 4.615.773 18.576.238
09/10/2017 2.540 - 30 1,16 344 8.240 2.094.130 249.901 218.966 30.935 23.192.011
Appendix 4
TKIM - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Accumulated Inventory
06/10/2017 2.570 + 40 1,58 765 29.122 7.541.446 1.000.234 488.636 511.598 23.161.076
05/10/2017 2.530 - 70 2,69 386 19.389 4.944.080 690.504 - 690.504 22.649.478
04/10/2017 2.600 - 30 1,14 937 33.901 8.762.285 1.426.014 25.971 1.400.043 21.958.974
03/10/2017 2.630 + 40 1,54 1.264 63.124 16.677.923 1.400.860 91.012 1.309.848 20.558.931
02/10/2017 2.590 + 150 6,14 1.457 79.266 20.282.966 1.233.459 236.475 996.984 19.249.083
29/09/2017 2.440 + 170 7,48 1.072 54.290 13.017.128 506.918 66.275 440.643 18.252.099
28/09/2017 2.270 + 20 0,88 870 30.794 7.056.797 281.278 11.500 269.778 17.811.456
27/09/2017 2.250 + 130 6,13 1.155 62.945 13.860.382 1.078.644 75.349 1.003.295 17.541.678
26/09/2017 2.120 + 70 3,41 581 38.640 8.125.032 93.703 18.568 75.135 16.538.383
25/09/2017 2.050 - 170 7,65 667 17.233 3.605.386 57.455 13.936 43.519 16.463.248
22/09/2017 2.220 - 20 0,89 479 18.643 4.190.265 - 11.250 - 11.250 16.419.729
20/09/2017 2.240 + 150 7,17 681 32.953 7.248.855 247.349 57.930 189.419 16.430.979
19/09/2017 2.090 - 80 3,68 754 32.613 6.986.134 - 126.700 - 126.700 16.241.560
18/09/2017 2.170 + 160 7,96 828 45.320 9.632.881 8.120 87.420 - 79.300 16.368.260
15/09/2017 2.010 + 185 10,13 1.184 73.684 14.531.472 99.582 106.505 - 6.923 16.447.560
14/09/2017 1.825 + 35 1,95 238 8.050 1.458.790 522.339 9.050 513.289 16.454.483
13/09/2017 1.790 + 20 1,12 344 7.374 1.313.880 375.198 26.550 348.648 15.941.194
12/09/2017 1.770 + 10 0,56 169 5.820 1.034.561 8.900 - 8.900 15.592.546
11/09/2017 1.760 - 65 3,56 1.712 33.098 5.863.181 2.401.370 - 2.401.370 15.583.646
08/09/2017 1.825 - 95 4,94 939 21.995 4.156.594 9.125 212.593 - 203.468 13.182.276
07/09/2017 1.920 + 170 9,71 865 47.743 8.930.563 - 154.225 - 154.225 13.385.744
06/09/2017 1.750 + 40 2,33 653 26.720 4.631.253 513.000 26.125 486.875 13.539.969
05/09/2017 1.710 + 35 2,08 423 21.765 3.712.861 - 164.659 - 164.659 13.053.094
04/09/2017 1.675 + 85 5,34 416 16.673 2.776.171 - 118.261 - 118.261 13.217.753
31/08/2017 1.590 + 90 6 390 15.819 2.444.380 177.536 162.025 15.511 13.336.014
30/08/2017 1.500 + 35 2,38 270 6.143 909.722 - 54.345 - 54.345 13.320.503
29/08/2017 1.465 - 0 421 20.643 3.058.015 292.967 59.250 233.717 13.374.848
28/08/2017 1.465 + 25 1,73 88 5.685 828.259 - 94.250 - 94.250 13.141.131
25/08/2017 1.440 + 35 2,49 69 5.488 780.523 - - - 13.235.381
24/08/2017 1.405 + 5 0,35 238 6.628 928.467 252.235 - 252.235 13.235.381
23/08/2017 1.400 + 15 1,08 438 11.213 1.559.693 505.833 - 505.833 12.983.146
22/08/2017 1.385 + 10 0,72 161 12.152 1.700.711 72.737 13.800 58.937 12.477.313
21/08/2017 1.375 + 20 1,47 160 12.279 1.706.332 - - - 12.418.376
18/08/2017 1.355 + 20 1,49 571 13.660 1.841.303 626.672 430.705 195.967 12.418.376
16/08/2017 1.335 + 20 1,52 54 2.454 326.081 - 141.646 - 141.646 12.222.409
15/08/2017 1.315 + 75 6,04 206 12.822 1.659.270 - 125.287 - 125.287 12.364.055
14/08/2017 1.240 + 25 2,05 195 12.954 1.588.630 122.000 571.958 - 449.958 12.489.342
11/08/2017 1.215 + 10 0,82 30 3.008 364.135 - 2.928 - 2.928 12.939.300
10/08/2017 1.205 + 5 0,41 278 6.389 774.325 262.931 307.204 - 44.273 12.942.228
09/08/2017 1.200 - 0 585 11.556 1.391.412 601.000 122 600.878 12.986.501
08/08/2017 1.200 + 25 2,12 300 16.495 1.981.031 235.292 507.076 - 271.784 12.385.623
07/08/2017 1.175 + 10 0,85 519 7.757 908.346 706.776 502.785 203.991 12.657.407
04/08/2017 1.165 + 15 1,3 17 1.345 152.176 - - - 12.453.416
03/08/2017 1.150 - 20 1,7 35 2.915 335.685 - - - 12.453.416
02/08/2017 1.170 - 15 1,26 20 1.216 142.575 - - - 12.453.416
01/08/2017 1.185 + 5 0,42 32 11.466 1.358.481 - - - 12.453.416
31/07/2017 1.180 - 15 1,25 16 328 38.785 - - - 12.453.416
28/07/2017 1.195 + 20 1,7 25 1.524 179.903 - 59.250 - 59.250 12.453.416
27/07/2017 1.175 - 0 13 1.034 119.741 - - - 12.512.666
26/07/2017 1.175 + 25 2,17 17 321 37.323 - - - 12.512.666
25/07/2017 1.150 - 40 3,36 21 624 71.918 - - - 12.512.666
24/07/2017 1.190 - 0 - - - - - - 12.512.666
21/07/2017 1.190 + 10 0,84 32 3.281 392.250 60.000 79.860 - 19.860 12.512.666
20/07/2017 1.180 - 20 1,66 23 907 107.187 - 28.712 - 28.712 12.532.526
19/07/2017 1.200 - 5 0,41 50 3.954 474.419 - 72.242 - 72.242 12.561.238
18/07/2017 1.205 + 50 4,32 156 10.531 1.262.916 - 627.861 - 627.861 12.633.480
17/07/2017 1.155 - 35 2,94 32 1.393 164.797 - 33.915 - 33.915 13.261.341
14/07/2017 1.190 - 5 0,41 20 1.524 182.044 23.900 - 23.900 13.295.256
13/07/2017 1.195 - 5 0,41 38 3.327 397.381 35.850 - 35.850 13.271.356
12/07/2017 1.200 - 15 1,23 38 12.275 1.457.698 - 120.000 - 120.000 13.235.506
11/07/2017 1.215 + 15 1,25 45 999 120.508 - 25.214 - 25.214 13.355.506
10/07/2017 1.200 + 20 1,69 36 26.078 3.128.420 - 341.880 - 341.880 13.380.720
07/07/2017 1.180 + 5 0,42 13 708 80.497 - 78.138 - 78.138 13.722.600
06/07/2017 1.175 + 5 0,42 34 876 102.243 6.750 - 6.750 13.800.738
05/07/2017 1.170 + 40 3,53 30 379 44.221 - - - 13.793.988
04/07/2017 1.130 - 55 4,64 33 3.061 347.258 46.600 - 46.600 13.793.988
03/07/2017 1.185 - 15 1,25 37 18.817 2.239.609 - 26.160 - 26.160 13.747.388
22/06/2017 1.200 + 30 2,56 81 1.292 151.493 27.245 13.110 14.135 13.773.548
21/06/2017 1.170 - 15 1,26 48 1.623 191.988 95.200 - 95.200 13.759.413
20/06/2017 1.185 + 25 2,15 35 1.485 177.472 - - - 13.664.213
19/06/2017 1.160 - 50 4,13 79 3.374 399.775 - 117.192 - 117.192 13.664.213
16/06/2017 1.210 - 65 5,09 78 3.017 372.564 - - - 13.781.405
15/06/2017 1.275 + 5 0,39 40 2.558 330.304 - - - 13.781.405
14/06/2017 1.270 - 35 2,68 98 2.762 349.229 - - - 13.781.405
Appendix 4
TKIM - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Accumulated Inventory
13/06/2017 1.305 - 5 0,38 26 232 30.108 - - - 13.781.405
12/06/2017 1.310 - 20 1,5 87 1.914 247.058 - - - 13.781.405
09/06/2017 1.330 - 0 30 610 80.778 - - - 13.781.405
08/06/2017 1.330 + 25 1,91 16 251 33.276 - - - 13.781.405
07/06/2017 1.305 - 25 1,87 68 4.371 576.621 - - - 13.781.405
06/06/2017 1.330 - 45 3,27 62 3.862 518.752 - - - 13.781.405
05/06/2017 1.375 - 25 1,78 30 525 71.320 - - - 13.781.405
02/06/2017 1.400 + 50 3,7 130 7.130 985.995 - 98.801 - 98.801 13.781.405
31/05/2017 1.350 + 30 2,27 37 2.407 320.734 - - - 13.880.206
30/05/2017 1.320 - 15 1,12 65 1.373 181.571 - - - 13.880.206
29/05/2017 1.335 - 55 3,95 91 2.845 381.087 42.030 81.646 - 39.616 13.880.206
26/05/2017 1.390 - 30 2,11 69 2.421 337.146 - - - 13.919.822
24/05/2017 1.420 - 85 5,64 210 4.937 721.084 7.250 8.100 - 850 13.919.822
23/05/2017 1.505 + 90 6,36 215 12.801 1.879.339 1.390.714 - 1.390.714 13.920.672
22/05/2017 1.415 - 5 0,35 118 6.709 936.852 280.344 258.060 22.284 12.529.958
19/05/2017 1.420 + 20 1,42 66 2.494 351.212 171.086 - 171.086 12.507.674
18/05/2017 1.400 + 40 2,94 119 1.954 265.755 55.177 - 55.177 12.336.588
17/05/2017 1.360 - 45 3,2 49 3.071 419.775 - - - 12.281.411
16/05/2017 1.405 + 35 2,55 215 5.454 738.333 161.870 - 161.870 12.281.411
15/05/2017 1.370 - 130 8,66 349 10.699 1.460.868 426.694 - 426.694 12.119.541
12/05/2017 1.500 - 85 5,36 217 8.435 1.288.650 191.853 - 191.853 11.692.847
10/05/2017 1.585 - 75 4,51 355 19.306 3.117.514 969.000 100.223 868.777 11.500.994
09/05/2017 1.660 + 85 5,39 782 35.852 5.848.340 1.155.654 130.278 1.025.376 10.632.217
08/05/2017 1.575 + 125 8,62 547 68.708 10.397.266 2.263.334 136.406 2.126.928 9.606.841
05/05/2017 1.450 + 30 2,11 313 30.057 4.347.239 58.305 469.989 - 411.684 7.479.913
04/05/2017 1.420 + 40 2,89 308 19.515 2.777.361 163.668 218.000 - 54.332 7.891.597
03/05/2017 1.380 - 40 2,81 494 30.496 4.365.912 1.009.200 462.220 546.980 7.945.929
02/05/2017 1.420 + 145 11,37 1.195 89.336 12.382.741 955.920 770.860 185.060 7.398.949
28/04/2017 1.275 + 100 8,51 368 29.105 3.733.485 - 47.917 - 47.917 7.213.889
27/04/2017 1.175 - 15 1,26 91 2.624 315.886 163.637 20.393 143.244 7.261.806
26/04/2017 1.190 + 20 1,7 155 8.740 1.050.609 515.401 3.012 512.389 7.118.562
25/04/2017 1.170 + 30 2,63 123 8.275 950.559 335.819 - 335.819 6.606.173
21/04/2017 1.140 - 15 1,29 66 8.125 926.801 570.000 116.363 453.637 6.270.354
20/04/2017 1.155 - 5 0,43 54 6.001 691.088 575.000 2.875 572.125 5.816.717
18/04/2017 1.160 - 25 2,1 183 10.413 1.222.693 21.762 7.170 14.592 5.244.592
17/04/2017 1.185 + 15 1,28 79 4.501 541.002 - - - 5.230.000
13/04/2017 1.170 - 45 3,7 56 2.659 314.948 173.589 - 173.589 5.230.000
12/04/2017 1.215 + 25 2,1 178 25.067 3.075.478 1.716.364 - 1.716.364 5.056.411
11/04/2017 1.190 - 65 5,17 235 28.932 3.508.305 2.086.517 - 2.086.517 3.340.047
10/04/2017 1.255 + 10 0,8 435 34.277 4.406.819 310.070 298.330 11.740 1.253.530
07/04/2017 1.245 + 20 1,63 349 37.973 4.665.561 1.315.560 84.700 1.230.860 1.241.790
06/04/2017 1.225 + 155 14,48 1.316 117.780 13.907.531 988.221 185.238 802.983 10.930
05/04/2017 1.070 + 50 4,9 234 18.308 1.943.857 - - - - 792.053
04/04/2017 1.020 - 10 0,97 7 264 26.424 - - - - 792.053
03/04/2017 1.030 + 25 2,48 34 3.131 316.223 - - - - 792.053
31/03/2017 1.005 - 20 1,95 84 3.507 351.702 - 6.000 - 6.000 - 792.053
30/03/2017 1.025 + 5 0,49 18 1.093 111.331 10.200 - 10.200 - 786.053
29/03/2017 1.020 + 10 0,99 80 11.477 1.174.701 - - - - 796.253
27/03/2017 1.010 + 5 0,49 40 1.901 190.986 - - - - 796.253
24/03/2017 1.005 + 40 4,14 91 6.638 668.361 - 101.103 - 101.103 - 796.253
23/03/2017 965 + 15 1,57 17 329 32.016 - - - - 695.150
22/03/2017 950 - 35 3,55 25 2.673 254.121 - - - - 695.150
21/03/2017 985 - 5 0,5 14 794 75.787 - - - - 695.150
20/03/2017 990 + 15 1,53 10 372 36.709 - - - - 695.150
17/03/2017 975 - 5 0,51 10 162 15.798 - - - - 695.150
16/03/2017 980 - 10 1,01 35 599 58.643 - - - - 695.150
15/03/2017 990 - 0 13 404 39.091 - - - - 695.150
14/03/2017 990 - 10 1 36 3.883 380.577 - - - - 695.150
13/03/2017 1.000 - 0 23 1.115 109.741 - - - - 695.150
10/03/2017 1.000 + 30 3,09 19 446 43.961 - - - - 695.150
09/03/2017 970 - 0 36 1.416 135.450 - - - - 695.150
08/03/2017 970 - 65 6,28 25 656 64.779 - 5.000 - 5.000 - 695.150
07/03/2017 1.035 - 0 12 84 8.570 - - - - 690.150
06/03/2017 1.035 + 25 2,47 14 182 18.646 - - - - 690.150
03/03/2017 1.010 - 40 3,8 29 631 65.409 - - - - 690.150
02/03/2017 1.050 + 15 1,44 44 1.656 171.657 - - - - 690.150
01/03/2017 1.035 + 10 0,97 220 15.230 1.583.971 - - - - 690.150
28/02/2017 1.025 + 20 1,99 396 8.296 841.160 - - - - 690.150
27/02/2017 1.005 + 45 4,68 18 937 92.309 - - - - 690.150
24/02/2017 960 - 30 3,03 19 350 34.024 - - - - 690.150
23/02/2017 990 + 40 4,21 129 7.854 774.738 - - - - 690.150
22/02/2017 950 + 50 5,55 26 21.116 1.922.434 - - - - 690.150
21/02/2017 900 - 30 3,22 13 764 69.023 - - - - 690.150
20/02/2017 930 - 5 0,53 2 65 5.995 - - - - 690.150
Appendix 4
TKIM - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Accumulated Inventory
17/02/2017 935 + 5 0,53 18 2.003 185.596 - - - - 690.150
16/02/2017 930 - 10 1,06 23 1.718 161.352 - - - - 690.150
14/02/2017 940 - 10 1,05 52 4.020 381.453 - - - - 690.150
13/02/2017 950 - 0 27 2.853 270.244 - - - - 690.150
10/02/2017 950 + 20 2,15 22 822 77.170 - - - - 690.150
09/02/2017 930 - 0 7 52 4.797 - - - - 690.150
08/02/2017 930 - 20 2,1 19 849 79.414 - - - - 690.150
07/02/2017 950 - 0 66 4.151 396.404 - - - - 690.150
06/02/2017 950 + 85 9,82 131 11.712 1.078.364 - 19.000 - 19.000 - 690.150
03/02/2017 865 + 40 4,84 21 1.181 101.823 - - - - 671.150
02/02/2017 825 - 50 5,71 5 275 22.737 - - - - 671.150
01/02/2017 875 + 30 3,55 4 150 12.399 - - - - 671.150
31/01/2017 845 - 15 1,74 11 301 25.659 - - - - 671.150
30/01/2017 860 - 0 3 5 430 - - - - 671.150
27/01/2017 860 + 5 0,58 2 75 6.437 - - - - 671.150
26/01/2017 855 - 0 10 1.319 112.709 - - - - 671.150
25/01/2017 855 - 0 15 844 71.583 - - - - 671.150
24/01/2017 855 - 0 17 895 76.463 - - - - 671.150
23/01/2017 855 - 15 1,72 8 400 34.441 - - - - 671.150
20/01/2017 870 - 10 1,13 18 1.522 132.522 - 21.750 - 21.750 - 671.150
19/01/2017 880 - 10 1,12 21 2.193 192.516 - - - - 649.400
18/01/2017 890 + 5 0,56 23 784 68.878 - - - - 649.400
17/01/2017 885 - 15 1,66 115 7.860 710.766 - 36.200 - 36.200 - 649.400
16/01/2017 900 + 10 1,12 203 12.442 1.132.443 - 18.200 - 18.200 - 613.200
13/01/2017 890 + 30 3,48 4 64 5.690 - - - - 595.000
12/01/2017 860 + 5 0,58 28 1.584 134.647 - - - - 595.000
11/01/2017 855 + 5 0,58 34 2.264 193.228 - - - - 595.000
10/01/2017 850 - 15 1,73 96 7.871 679.742 - - - - 595.000
09/01/2017 865 + 110 14,56 300 22.543 1.900.061 - 595.000 - 595.000 - 595.000
06/01/2017 755 - 5 0,65 3 12 881 - - - -
05/01/2017 760 + 5 0,66 3 20 1.483 - - - -
04/01/2017 755 - 5 0,65 2 5 377 - - - -
03/01/2017 760 + 30 4,1 6 31 2.296 - - - -
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
18/04/2019 386 + 4 1,04 2.085 520.364 20.191.855 1.445.512 1.107.088 338.424 123.424.076
16/04/2019 382 + 4 1,05 1.472 282.899 10.769.173 666.562 781.940 - 115.378 123.085.652
15/04/2019 378 - 0 1.170 143.377 5.417.741 169.283 287.605 - 118.322 123.201.030
12/04/2019 378 + 6 1,61 2.076 508.818 19.317.020 760 1.379.296 - 1.378.536 123.319.352
11/04/2019 372 - 2 0,53 572 124.529 4.632.200 29.760 347.956 - 318.196 124.697.888
10/04/2019 374 - 2 0,53 879 192.145 7.207.601 24.615 1.483.911 - 1.459.296 125.016.084
09/04/2019 376 + 8 2,17 1.268 262.270 9.834.623 28.536 9.121 19.415 126.475.380
08/04/2019 368 - 2 0,54 739 105.036 3.891.469 221.474 289.248 - 67.774 126.455.965
05/04/2019 370 - 0 701 96.207 3.536.700 29.637 24.947 4.690 126.523.739
04/04/2019 370 - 2 0,53 1.184 172.646 6.374.259 - 935.822 - 935.822 126.519.049
02/04/2019 372 - 6 1,58 2.596 384.889 14.471.721 87.690 7.106.336 - 7.018.646 127.454.871
01/04/2019 378 + 18 5 1.923 541.604 20.151.026 49.950 60.760 - 10.810 134.473.517
29/03/2019 360 - 6 1,63 970 114.252 4.144.312 - 336.594 - 336.594 134.484.327
28/03/2019 366 + 14 3,97 1.656 361.817 13.023.676 71.546 357.049 - 285.503 134.820.921
27/03/2019 352 - 0 1.264 203.972 7.198.870 - 1.549.407 - 1.549.407 135.106.424
26/03/2019 352 + 2 0,57 1.074 212.750 7.521.537 3.702 54.059 - 50.357 136.655.831
25/03/2019 350 - 18 4,89 2.615 355.439 12.629.296 150.000 1.775.104 - 1.625.104 136.706.188
22/03/2019 368 - 0 905 61.056 2.247.931 3.680 395.688 - 392.008 138.331.292
21/03/2019 368 + 4 1,09 936 104.143 3.849.341 13.616 413.240 - 399.624 138.723.300
20/03/2019 364 - 4 1,08 1.156 206.347 7.579.936 7.417 1.040.521 - 1.033.104 139.122.924
19/03/2019 368 - 2 0,54 1.248 136.012 5.028.393 61.986 771.330 - 709.344 140.156.028
18/03/2019 370 - 4 1,06 1.073 126.577 4.715.389 103.818 797.995 - 694.177 140.865.372
15/03/2019 374 - 8 2,09 1.623 349.305 13.143.358 1.504.294 2.394.616 - 890.322 141.559.549
14/03/2019 382 + 6 1,59 2.975 797.238 30.488.731 1.678.212 13.673.783 - 11.995.571 142.449.871
13/03/2019 376 + 2 0,53 939 159.901 5.977.521 1.278.155 1.046.296 231.859 154.445.442
12/03/2019 374 + 8 2,18 1.226 249.875 9.231.175 911.580 74.787 836.793 154.213.583
11/03/2019 366 - 6 1,61 1.660 297.317 10.781.587 72.807 463.895 - 391.088 153.376.790
08/03/2019 372 - 4 1,06 1.384 262.427 9.724.959 139.762 1.600.631 - 1.460.869 153.767.878
06/03/2019 376 - 0 943 166.577 6.259.202 - 113.562 - 113.562 155.228.747
05/03/2019 376 + 2 0,53 1.541 278.625 10.418.342 983.816 738.450 245.366 155.342.309
04/03/2019 374 + 2 0,53 1.771 203.675 7.563.965 1.122.894 1.341.167 - 218.273 155.096.943
01/03/2019 372 + 4 1,08 856 175.482 6.522.102 883.373 1.792.346 - 908.973 155.315.216
28/02/2019 368 - 4 1,07 1.532 205.278 7.646.379 186.794 1.394.136 - 1.207.342 156.224.189
27/02/2019 372 + 4 1,08 1.592 272.790 10.190.230 355.488 1.350.462 - 994.974 157.431.531
26/02/2019 368 - 12 3,15 2.428 378.912 14.004.745 77.303 417.041 - 339.738 158.426.505
25/02/2019 380 - 2 0,52 1.383 183.014 6.978.615 190.200 991.591 - 801.391 158.766.243
22/02/2019 382 - 6 1,54 1.009 182.370 6.981.993 63.921 242.059 - 178.138 159.567.634
21/02/2019 388 + 4 1,04 1.089 211.583 8.233.259 1.326.345 827.302 499.043 159.745.772
20/02/2019 384 - 8 2,04 2.167 310.734 12.047.804 685.661 1.569.481 - 883.820 159.246.729
19/02/2019 392 + 4 1,03 2.297 460.557 18.018.967 2.316.984 396.785 1.920.199 160.130.549
18/02/2019 388 + 16 4,3 2.248 635.484 24.532.532 1.786.098 247.022 1.539.076 158.210.350
15/02/2019 372 - 16 4,12 2.292 472.060 18.005.411 1.178.580 868.393 310.187 156.671.274
14/02/2019 388 - 0 2.674 603.995 23.625.396 1.527.305 1.213.867 313.438 156.361.087
13/02/2019 388 + 10 2,64 3.571 1.190.413 45.867.786 1.493.305 2.648.320 - 1.155.015 156.047.649
12/02/2019 378 - 4 1,04 2.118 532.926 19.932.296 1.131.300 1.013.643 117.657 157.202.664
11/02/2019 382 - 12 3,04 2.747 376.955 14.513.760 365.260 1.248.636 - 883.376 157.085.007
08/02/2019 394 - 14 3,43 2.556 682.155 27.064.318 378.610 1.945.764 - 1.567.154 157.968.383
07/02/2019 408 + 20 5,15 6.448 2.279.823 92.678.516 1.576.084 110.394 1.465.690 159.535.537
06/02/2019 388 - 6 1,52 3.386 726.558 28.330.984 6.618 387.266 - 380.648 158.069.847
04/02/2019 394 + 30 8,24 8.839 2.561.468 98.219.518 2.258.277 2.201.714 56.563 158.450.495
01/02/2019 364 - 0 1.472 291.285 10.585.506 88.283 1.687.210 - 1.598.927 158.393.932
31/01/2019 364 + 6 1,67 3.053 833.954 30.347.073 467.894 7.939.512 - 7.471.618 159.992.859
30/01/2019 358 + 4 1,12 5.773 532.015 19.133.408 161.099 4.764.105 - 4.603.006 167.464.477
29/01/2019 354 - 6 1,66 1.407 280.438 10.007.519 67.769 3.274.057 - 3.206.288 172.067.483
28/01/2019 360 + 2 0,55 1.592 324.895 11.824.833 487.710 145.526 342.184 175.273.771
25/01/2019 358 - 0 1.939 467.331 16.846.306 358.714 3.953.717 - 3.595.003 174.931.587
24/01/2019 358 - 8 2,18 1.524 355.362 12.809.947 42.281 1.004.911 - 962.630 178.526.590
23/01/2019 366 + 8 2,23 1.441 266.312 9.642.135 3.523.488 2.242.527 1.280.961 179.489.220
22/01/2019 358 - 10 2,71 1.884 337.555 12.201.307 346.835 3.062.242 - 2.715.407 178.208.259
21/01/2019 368 + 2 0,54 1.312 337.239 12.462.402 1.231.820 4.514.876 - 3.283.056 180.923.666
18/01/2019 366 - 4 1,08 1.042 241.283 8.871.495 371.429 3.194.640 - 2.823.211 184.206.722
17/01/2019 370 - 2 0,53 2.368 424.294 15.877.219 1.257.965 1.094.165 163.800 187.029.933
16/01/2019 372 + 4 1,08 1.528 383.963 14.293.506 1.662.149 1.623.492 38.657 186.866.133
15/01/2019 368 + 6 1,65 1.947 593.118 21.777.440 3.561.515 169.131 3.392.384 186.827.476
14/01/2019 362 - 12 3,2 2.270 422.033 15.330.666 180.004 2.023.431 - 1.843.427 183.435.092
11/01/2019 374 + 14 3,88 4.409 1.097.392 40.824.111 14.629.128 736.120 13.893.008 185.278.519
10/01/2019 360 + 4 1,12 2.144 558.327 20.204.018 1.257.649 367.378 890.271 171.385.511
09/01/2019 356 + 2 0,56 1.527 277.699 9.930.260 334.891 1.457.279 - 1.122.388 170.495.240
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
08/01/2019 354 - 2 0,56 1.902 189.657 6.773.065 288.045 6.837 281.208 171.617.628
07/01/2019 356 + 10 2,89 2.856 528.611 18.777.110 2.252.980 201.577 2.051.403 171.336.420
04/01/2019 346 + 4 1,16 1.462 269.074 9.282.044 1.285.700 626.280 659.420 169.285.017
03/01/2019 342 + 6 1,78 611 76.455 2.605.028 333.781 78.786 254.995 168.625.597
02/01/2019 336 - 8 2,32 1.042 136.759 4.655.957 78.768 414.570 - 335.802 168.370.602
28/12/2018 344 + 4 1,17 1.604 479.849 16.498.648 9.899.357 1.790.834 8.108.523 168.706.404
27/12/2018 340 + 12 3,65 1.434 228.780 7.774.451 93.259 86.585 6.674 160.597.881
26/12/2018 328 - 12 3,52 1.144 115.296 3.807.150 14.449 17.496 - 3.047 160.591.207
21/12/2018 340 + 4 1,19 1.314 162.904 5.510.600 105.120 94.102 11.018 160.594.254
20/12/2018 336 - 4 1,17 789 128.659 4.357.762 308 966.134 - 965.826 160.583.236
19/12/2018 340 - 8 2,29 2.092 301.284 10.292.418 41.074 939.306 - 898.232 161.549.062
18/12/2018 348 + 6 1,75 1.371 413.513 14.144.562 6.663.110 324.387 6.338.723 162.447.294
17/12/2018 342 + 4 1,18 1.627 210.556 7.138.143 2.796.242 347.386 2.448.856 156.108.571
14/12/2018 338 - 0 1.773 264.109 9.024.926 609.762 1.170.124 - 560.362 153.659.715
13/12/2018 338 - 4 1,16 2.275 327.356 11.096.450 216.935 2.137.107 - 1.920.172 154.220.077
12/12/2018 342 + 10 3,01 3.845 817.870 27.852.765 3.871.265 8.138.667 - 4.267.402 156.140.249
11/12/2018 332 - 0 1.453 272.537 9.003.725 4.149.754 1.793.964 2.355.790 160.407.651
10/12/2018 332 + 8 2,46 2.250 450.673 14.926.679 4.554.252 188.276 4.365.976 158.051.861
07/12/2018 324 - 10 2,99 2.462 401.011 13.133.041 2.018.267 2.543.903 - 525.636 153.685.885
06/12/2018 334 + 4 1,21 2.225 498.220 16.541.169 4.388.299 1.567.981 2.820.318 154.211.521
05/12/2018 330 - 4 1,19 3.311 309.734 10.152.189 1.389.722 985.954 403.768 151.391.203
04/12/2018 334 - 0 4.931 813.392 27.386.161 1.029.229 3.937.093 - 2.907.864 150.987.435
03/12/2018 334 + 26 8,44 4.257 873.980 28.451.323 526.523 3.745.520 - 3.218.997 153.895.299
30/11/2018 308 + 4 1,31 5.176 826.877 26.039.895 1.859.844 5.371.887 - 3.512.043 157.114.296
29/11/2018 304 - 0 1.499 244.850 7.481.637 314.770 1.202.894 - 888.124 160.626.339
28/11/2018 304 + 2 0,66 1.481 176.248 5.378.200 72.856 1.685.667 - 1.612.811 161.514.463
27/11/2018 302 - 2 0,65 1.793 298.223 9.137.771 1.450.122 1.194.557 255.565 163.127.274
26/11/2018 304 - 14 4,4 3.772 502.915 15.394.956 121.704 443.117 - 321.413 162.871.709
23/11/2018 318 - 2 0,62 1.714 172.554 5.552.252 196.430 18.518 177.912 163.193.122
22/11/2018 320 - 2 0,62 1.492 166.811 5.395.770 65.504 5.020 60.484 163.015.210
21/11/2018 322 - 18 5,29 2.792 493.869 16.169.933 17.021 2.704.845 - 2.687.824 162.954.726
19/11/2018 340 + 4 1,19 875 74.451 2.538.267 41.758 212.539 - 170.781 165.642.550
16/11/2018 336 - 4 1,17 1.929 265.796 9.071.935 320.980 242.780 78.200 165.813.331
15/11/2018 340 + 8 2,4 2.172 269.653 9.122.270 19.089 175.472 - 156.383 165.735.131
14/11/2018 332 - 20 5,68 5.578 766.917 26.204.197 783.688 2.053.971 - 1.270.283 165.891.514
13/11/2018 352 - 10 2,76 1.613 252.475 8.913.632 - 122.558 - 122.558 167.161.797
12/11/2018 362 + 4 1,11 794 113.018 4.066.190 43.350 1.081.310 - 1.037.960 167.284.355
09/11/2018 358 - 8 2,18 1.341 189.625 6.818.360 763.654 1.194.437 - 430.783 168.322.315
08/11/2018 366 + 2 0,54 2.912 297.731 10.958.846 415.752 1.221.770 - 806.018 168.753.098
07/11/2018 364 - 4 1,08 1.067 113.945 4.160.778 166.155 719.336 - 553.181 169.559.116
06/11/2018 368 + 4 1,09 1.246 197.497 7.209.019 185.827 639.293 - 453.466 170.112.297
05/11/2018 364 - 4 1,08 2.687 262.580 9.592.184 519.935 1.219.193 - 699.258 170.565.763
02/11/2018 368 - 0 1.214 167.246 6.164.982 213.063 1.017.515 - 804.452 171.265.021
01/11/2018 368 - 8 2,12 2.032 317.266 11.731.692 138.111 1.192.909 - 1.054.798 172.069.473
31/10/2018 376 + 16 4,44 3.020 875.735 32.492.712 83.719 4.863.714 - 4.779.995 173.124.271
30/10/2018 360 - 0 1.620 398.855 14.289.386 364.200 2.086.385 - 1.722.185 177.904.266
29/10/2018 360 + 8 2,27 1.350 297.660 10.621.308 71.000 165.242 - 94.242 179.626.451
26/10/2018 352 - 2 0,56 949 113.479 4.027.439 71 199.027 - 198.956 179.720.693
25/10/2018 354 - 2 0,56 5.635 370.283 13.080.070 89.300 2.307.137 - 2.217.837 179.919.649
24/10/2018 356 - 20 5,31 4.659 535.921 19.558.677 138.923 2.570.584 - 2.431.661 182.137.486
23/10/2018 376 - 4 1,05 2.493 413.386 15.659.227 3.181.890 292.660 2.889.230 184.569.147
22/10/2018 380 + 12 3,26 4.855 557.457 21.063.958 109.295 1.480.376 - 1.371.081 181.679.917
19/10/2018 368 + 6 1,65 1.649 247.152 9.136.646 - 283.063 - 283.063 183.050.998
18/10/2018 362 - 10 2,68 1.577 216.505 7.872.454 115.773 438.918 - 323.145 183.334.061
17/10/2018 372 + 2 0,54 2.090 387.935 14.464.999 135.769 1.974.465 - 1.838.696 183.657.206
16/10/2018 370 + 16 4,51 2.636 433.754 15.701.229 947.825 379.129 568.696 185.495.902
15/10/2018 354 - 14 3,8 1.843 263.537 9.582.747 189.427 733.779 - 544.352 184.927.206
12/10/2018 368 + 4 1,09 3.514 437.131 16.083.596 270.400 1.969.315 - 1.698.915 185.471.558
11/10/2018 364 - 16 4,21 2.436 472.656 17.244.076 5.227.762 572.813 4.654.949 187.170.473
10/10/2018 380 - 4 1,04 2.132 305.853 11.706.386 1.412.483 2.570.875 - 1.158.392 182.515.524
09/10/2018 384 + 12 3,22 2.970 603.289 22.890.302 772.196 660.525 111.671 183.673.916
08/10/2018 372 - 0 1.967 461.823 17.071.235 3.039.934 1.791.410 1.248.524 183.562.245
05/10/2018 372 - 14 3,62 2.809 454.746 17.049.347 321.240 325.460 - 4.220 182.313.721
04/10/2018 386 - 4 1,02 2.944 596.353 23.394.607 2.722.506 427.513 2.294.993 182.317.941
03/10/2018 390 - 0 3.183 497.205 19.304.736 1.544.747 1.581.304 - 36.557 180.022.948
02/10/2018 390 - 6 1,51 6.338 1.314.870 52.423.180 1.820.282 639.667 1.180.615 180.059.505
01/10/2018 396 + 24 6,45 5.274 1.379.166 53.249.500 152.850 297.300 - 144.450 178.878.890
28/09/2018 372 - 2 0,53 1.712 300.502 11.187.950 258.973 803.059 - 544.086 179.023.340
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
27/09/2018 374 + 12 3,31 3.737 891.005 33.172.042 371.114 821.018 - 449.904 179.567.426
26/09/2018 362 - 6 1,63 4.174 840.003 30.983.202 675.725 2.011.138 - 1.335.413 180.017.330
25/09/2018 368 + 24 6,97 4.390 1.081.573 38.849.626 501.743 1.203.568 - 701.825 181.352.743
24/09/2018 344 - 0 1.234 176.595 6.073.399 - 889.183 - 889.183 182.054.568
21/09/2018 344 - 4 1,14 1.050 164.034 5.700.957 510.138 1.505.871 - 995.733 182.943.751
20/09/2018 348 + 4 1,16 2.139 348.928 12.264.835 57.703 1.501.898 - 1.444.195 183.939.484
19/09/2018 344 + 6 1,77 1.532 183.718 6.344.363 241.335 1.001.066 - 759.731 185.383.679
18/09/2018 338 - 10 2,87 1.501 387.302 13.226.581 433.560 10.254.032 - 9.820.472 186.143.410
17/09/2018 348 - 4 1,13 1.321 234.119 8.158.833 4.993.260 866.359 4.126.901 195.963.882
14/09/2018 352 - 2 0,56 1.997 247.482 8.720.067 2.506.908 1.212.184 1.294.724 191.836.981
13/09/2018 354 + 4 1,14 1.741 343.369 12.213.233 1.888.366 1.742.474 145.892 190.542.257
12/09/2018 350 + 8 2,33 2.832 447.003 15.601.279 2.204.043 2.532.174 - 328.131 190.396.365
10/09/2018 342 - 0 1.741 221.500 7.515.002 457.085 378.603 78.482 190.724.496
07/09/2018 342 + 10 3,01 2.655 493.738 16.625.492 5.567.834 2.119.696 3.448.138 190.646.014
06/09/2018 332 + 2 0,6 3.393 581.593 19.242.716 2.932.242 5.525.005 - 2.592.763 187.197.876
05/09/2018 330 - 28 7,82 4.412 944.096 31.617.662 1.064.762 849.114 215.648 189.790.639
04/09/2018 358 + 4 1,12 3.040 631.773 22.796.316 9.168.839 55.278 9.113.561 189.574.991
03/09/2018 354 - 8 2,2 2.218 376.342 13.515.491 682.135 338.873 343.262 180.461.430
31/08/2018 362 - 6 1,63 2.587 510.064 18.476.652 639.912 1.842.024 - 1.202.112 180.118.168
30/08/2018 368 - 8 2,12 6.025 1.377.351 52.055.483 2.777.671 3.398.740 - 621.069 181.320.280
29/08/2018 376 + 12 3,29 7.029 1.687.398 63.795.793 523.934 16.311.762 - 15.787.828 181.941.349
28/08/2018 364 - 0 3.604 764.983 28.249.315 2.086.797 9.299.746 - 7.212.949 197.729.177
27/08/2018 364 + 4 1,11 1.922 226.673 8.250.818 1.413.567 2.907.377 - 1.493.810 204.942.126
24/08/2018 360 - 0 1.510 269.125 9.676.213 76.472 3.170.857 - 3.094.385 206.435.936
23/08/2018 360 - 0 4.000 669.578 24.517.670 1.499.227 8.808.949 - 7.309.722 209.530.321
21/08/2018 360 + 10 2,85 3.395 528.974 18.898.257 3.412.524 5.181.719 - 1.769.195 216.840.043
20/08/2018 350 + 4 1,15 1.961 205.117 7.187.760 1.318.450 1.747.628 - 429.178 218.609.238
16/08/2018 346 - 8 2,25 3.290 272.149 9.542.271 1.924.193 1.039.373 884.820 219.038.416
15/08/2018 354 + 4 1,14 3.033 401.879 14.018.002 2.373.163 771.116 1.602.047 218.153.596
14/08/2018 350 - 8 2,23 2.754 441.657 15.660.500 228.959 1.180.290 - 951.331 216.551.549
13/08/2018 358 - 24 6,28 4.220 468.288 17.044.362 886.167 2.372.942 - 1.486.775 217.502.880
10/08/2018 382 + 8 2,13 2.001 329.494 12.563.302 2.938.427 577.650 2.360.777 218.989.655
09/08/2018 374 - 14 3,6 3.780 494.992 18.716.658 307.903 3.106.673 - 2.798.770 216.628.878
08/08/2018 388 - 6 1,52 2.545 422.626 16.505.194 1.043.881 1.090.119 - 46.238 219.427.648
07/08/2018 394 - 0 4.615 610.036 23.908.209 106.000 3.821.313 - 3.715.313 219.473.886
06/08/2018 394 + 4 1,02 3.427 624.894 24.920.665 17.392 915.600 - 898.208 223.189.199
03/08/2018 390 + 4 1,03 4.414 795.939 31.169.648 4.833.980 785.666 4.048.314 224.087.407
02/08/2018 386 + 12 3,2 7.601 2.103.741 81.790.672 5.921.276 4.000.505 1.920.771 220.039.093
01/08/2018 374 + 18 5,05 3.371 674.961 24.996.594 2.005.714 2.382.906 - 377.192 218.118.322
31/07/2018 356 - 14 3,78 3.811 520.693 19.035.004 144.177 3.478.771 - 3.334.594 218.495.514
30/07/2018 370 + 4 1,09 3.024 643.428 23.941.251 1.021.037 6.204.765 - 5.183.728 221.830.108
27/07/2018 366 - 2 0,54 2.438 361.590 13.250.247 1.473.167 4.410.334 - 2.937.167 227.013.836
26/07/2018 368 + 6 1,65 6.436 1.349.413 50.265.021 3.021.679 8.075.989 - 5.054.310 229.951.003
25/07/2018 362 + 26 7,73 6.976 1.637.521 58.125.391 4.384.566 4.085.819 298.747 235.005.313
24/07/2018 336 - 0 1.077 133.069 4.473.539 6.421 1.618.373 - 1.611.952 234.706.566
23/07/2018 336 - 4 1,17 1.756 160.256 5.420.551 - 764.056 - 764.056 236.318.518
20/07/2018 340 + 4 1,19 1.820 189.394 6.399.519 1.634.321 2.008.590 - 374.269 237.082.574
19/07/2018 336 - 2 0,59 3.816 420.967 14.356.943 1.614.662 1.371.662 243.000 237.456.843
18/07/2018 338 + 14 4,32 2.309 398.539 13.295.065 4.115.276 573.916 3.541.360 237.213.843
17/07/2018 324 - 4 1,21 2.475 225.414 7.322.022 113.980 1.019.591 - 905.611 233.672.483
16/07/2018 328 - 8 2,38 1.219 124.208 4.130.897 16.400 559.802 - 543.402 234.578.094
13/07/2018 336 - 0 2.292 261.074 8.796.650 33.041 1.565.139 - 1.532.098 235.121.496
12/07/2018 336 + 2 0,59 1.832 233.743 7.779.803 154.716 1.051.545 - 896.829 236.653.594
11/07/2018 334 - 2 0,59 3.241 564.055 18.897.504 3.762.637 1.669.124 2.093.513 237.550.423
10/07/2018 336 - 16 4,54 4.522 681.547 23.394.660 739.383 4.682.070 - 3.942.687 235.456.910
09/07/2018 352 + 44 14,28 5.801 1.196.944 39.229.020 3.307.734 3.672.091 - 364.357 239.399.597
06/07/2018 308 + 2 0,65 1.635 256.439 7.921.044 97.358 2.131.767 - 2.034.409 239.763.954
05/07/2018 306 - 8 2,54 1.509 126.171 3.895.865 255.650 105.946 149.704 241.798.363
04/07/2018 314 + 6 1,94 2.787 341.347 10.414.410 930.343 20.678 909.665 241.648.659
03/07/2018 308 - 20 6,09 1.613 245.015 7.715.993 179.283 35.204 144.079 240.738.994
02/07/2018 328 - 8 2,38 2.350 254.365 8.569.928 70.423 554.524 - 484.101 240.594.915
29/06/2018 336 + 6 1,81 1.743 270.597 9.094.793 275.263 90.650 184.613 241.079.016
28/06/2018 330 - 12 3,5 2.301 435.311 14.716.875 66.410 2.413.460 - 2.347.050 240.894.403
27/06/2018 342 + 2 0,58 1.814 345.624 12.059.471 588.122 1.959.484 - 1.371.362 243.241.453
26/06/2018 340 - 14 3,95 2.155 326.509 11.245.553 10.090 2.110.716 - 2.100.626 244.612.815
25/06/2018 354 + 2 0,56 2.640 521.351 18.867.698 1.870.631 3.107.811 - 1.237.180 246.713.441
22/06/2018 352 - 10 2,76 2.531 322.123 11.549.108 364.712 2.570.301 - 2.205.589 247.950.621
21/06/2018 362 - 20 5,23 2.687 411.226 15.301.898 150 2.988.146 - 2.987.996 250.156.210
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
20/06/2018 382 - 18 4,5 2.430 349.954 13.449.754 2.248.822 3.380.105 - 1.131.283 253.144.206
08/06/2018 400 - 2 0,49 1.349 245.924 9.877.412 972.061 1.015.585 - 43.524 254.275.489
07/06/2018 402 - 2 0,49 1.467 249.639 10.103.935 842.562 1.171.907 - 329.345 254.319.013
06/06/2018 404 + 6 1,5 3.812 415.094 16.799.689 1.149.700 1.169.245 - 19.545 254.648.358
05/06/2018 398 + 6 1,53 2.951 510.599 20.391.467 703.877 1.301.419 - 597.542 254.667.903
04/06/2018 392 - 18 4,39 3.844 661.161 26.503.007 123.942 3.026.331 - 2.902.389 255.265.445
31/05/2018 410 - 6 1,44 3.377 432.725 17.956.745 2.776.128 3.978.486 - 1.202.358 258.167.834
30/05/2018 416 - 2 0,47 1.629 228.587 9.516.696 1.657.885 1.950.999 - 293.114 259.370.192
28/05/2018 418 - 10 2,33 3.001 361.579 15.065.171 1.068.553 1.070.245 - 1.692 259.663.306
25/05/2018 428 - 10 2,28 1.822 356.280 15.326.769 94.539 4.171.974 - 4.077.435 259.664.998
24/05/2018 438 + 2 0,45 2.958 296.773 12.998.627 1.666.778 2.015.515 - 348.737 263.742.433
23/05/2018 436 - 2 0,45 1.925 268.100 11.695.661 3.195.635 438.725 2.756.910 264.091.170
22/05/2018 438 - 10 2,23 3.294 540.249 24.160.993 246.043 3.108.418 - 2.862.375 261.334.260
21/05/2018 448 + 10 2,28 3.587 765.002 34.213.733 57.811 1.408.027 - 1.350.216 264.196.635
18/05/2018 438 + 2 0,45 2.353 416.344 18.337.146 808.642 939.173 - 130.531 265.546.851
17/05/2018 436 + 14 3,31 3.040 560.141 24.354.206 382.788 364.075 18.713 265.677.382
16/05/2018 422 + 2 0,47 987 121.224 5.094.174 483.370 118.455 364.915 265.658.669
15/05/2018 420 - 0 1.257 194.113 8.188.457 278.176 256.141 22.035 265.293.754
14/05/2018 420 - 10 2,32 1.908 277.972 11.687.706 352.057 176.360 175.697 265.271.719
11/05/2018 430 + 10 2,38 3.222 694.999 30.043.797 435.726 268.912 166.814 265.096.022
09/05/2018 420 + 12 2,94 2.653 535.337 22.366.501 1.014.364 437.893 576.471 264.929.208
08/05/2018 408 - 16 3,77 2.651 428.211 17.850.052 852.084 3.469.043 - 2.616.959 264.352.737
07/05/2018 424 + 18 4,43 4.164 996.816 42.095.538 2.743.898 3.244.828 - 500.930 266.969.696
04/05/2018 406 - 2 0,49 1.851 281.148 11.476.278 1.391.381 95.618 1.295.763 267.470.626
03/05/2018 408 - 16 3,77 2.422 285.520 11.756.727 325.236 1.054.787 - 729.551 266.174.863
02/05/2018 424 + 2 0,47 2.477 391.811 16.444.421 2.485.623 416.731 2.068.892 266.904.414
30/04/2018 422 + 12 2,92 4.101 638.784 26.975.151 1.540.324 401.309 1.139.015 264.835.522
27/04/2018 410 - 34 7,65 4.795 1.264.610 52.914.568 2.796.543 2.624.402 172.141 263.696.507
26/04/2018 444 - 22 4,72 3.693 886.190 39.925.059 2.980.723 1.373.014 1.607.709 263.524.366
25/04/2018 466 - 20 4,11 3.469 722.551 33.882.424 3.670.967 1.262.055 2.408.912 261.916.657
24/04/2018 486 + 6 1,25 3.580 1.052.530 51.006.343 4.075.409 15.915 4.059.494 259.507.745
23/04/2018 480 - 4 0,82 1.640 223.880 10.778.658 628.609 61.604 567.005 255.448.251
20/04/2018 484 - 21 4,15 3.166 908.807 44.647.854 4.780.212 335.957 4.444.255 254.881.246
19/04/2018 505 + 17 3,48 4.193 930.916 46.742.032 2.582.168 187.359 2.394.809 250.436.991
18/04/2018 488 + 10 2,09 1.764 423.886 20.524.733 6.204.887 97.208 6.107.679 248.042.182
17/04/2018 478 - 6 1,23 2.567 598.440 28.953.233 7.533.896 14.557 7.519.339 241.934.503
16/04/2018 484 - 4 0,81 2.932 613.395 29.993.499 4.417.359 327.427 4.089.932 234.415.164
13/04/2018 488 - 0 2.757 713.116 34.708.463 1.730.292 764.415 965.877 230.325.232
12/04/2018 488 + 24 5,17 6.241 1.805.374 87.186.253 11.434.513 2.963.427 8.471.086 229.359.355
11/04/2018 464 + 12 2,65 4.414 1.255.388 58.891.172 1.765.599 2.321.026 - 555.427 220.888.269
10/04/2018 452 + 6 1,34 2.336 527.677 23.902.673 4.266.961 770.676 3.496.285 221.443.696
09/04/2018 446 + 4 0,9 1.485 300.372 13.453.462 284.010 1.429.043 - 1.145.033 217.947.411
06/04/2018 442 - 12 2,64 1.846 343.940 15.335.539 222.812 2.526.498 - 2.303.686 219.092.444
05/04/2018 454 + 6 1,33 799 175.017 7.963.378 568.400 1.173.666 - 605.266 221.396.130
04/04/2018 448 - 22 4,68 1.875 432.586 19.714.207 702.506 3.334.608 - 2.632.102 222.001.396
03/04/2018 470 - 0 1.521 288.546 13.407.439 582.686 2.866.355 - 2.283.669 224.633.498
02/04/2018 470 + 4 0,85 1.447 285.370 13.384.262 2.952.759 675.437 2.277.322 226.917.167
29/03/2018 466 + 14 3,09 1.302 351.552 16.169.753 601.944 359.792 242.152 224.639.845
28/03/2018 452 - 6 1,31 1.181 311.185 14.230.385 4.472.781 3.254 4.469.527 224.397.693
27/03/2018 458 - 12 2,55 1.868 362.908 16.951.659 193.662 1.998.133 - 1.804.471 219.928.166
26/03/2018 470 + 6 1,29 1.845 479.648 22.630.020 5.817 3.035.491 - 3.029.674 221.732.637
23/03/2018 464 - 14 2,92 2.668 625.583 28.671.356 188.782 5.829.883 - 5.641.101 224.762.311
22/03/2018 478 - 0 2.370 518.097 25.113.123 4.597.178 624.659 3.972.519 230.403.412
21/03/2018 478 + 8 1,7 1.920 437.868 21.008.109 196.280 3.811.693 - 3.615.413 226.430.893
20/03/2018 470 + 8 1,73 1.965 343.421 15.921.058 446.834 1.798.401 - 1.351.567 230.046.306
19/03/2018 462 - 6 1,28 2.160 473.800 22.222.563 708.282 3.864.800 - 3.156.518 231.397.873
16/03/2018 468 - 8 1,68 1.140 197.313 9.329.953 38.678 1.755.863 - 1.717.185 234.554.391
15/03/2018 476 - 10 2,05 1.571 233.756 11.210.526 1.459.018 443.680 1.015.338 236.271.576
14/03/2018 486 - 2 0,4 1.142 263.304 12.750.096 70.990 1.906.032 - 1.835.042 235.256.238
13/03/2018 488 - 8 1,61 1.107 236.715 11.593.079 2.406.446 940.622 1.465.824 237.091.280
12/03/2018 496 + 16 3,33 2.168 507.889 25.123.425 3.615.821 1.190.045 2.425.776 235.625.456
09/03/2018 480 - 2 0,41 1.468 338.996 16.211.516 555.272 347.627 207.645 233.199.680
08/03/2018 482 - 10 2,03 2.869 575.992 27.594.821 579.716 841.534 - 261.818 232.992.035
07/03/2018 492 - 18 3,52 3.632 813.487 40.179.385 6.413.393 1.534.858 4.878.535 233.253.853
06/03/2018 510 + 14 2,82 5.078 1.324.143 68.089.050 3.815.622 8.681.264 - 4.865.642 228.375.318
05/03/2018 496 + 6 1,22 2.317 479.065 23.915.342 224.200 2.592.394 - 2.368.194 233.240.960
02/03/2018 490 + 2 0,4 2.272 494.623 24.240.817 1.779.943 3.499.727 - 1.719.784 235.609.154
01/03/2018 488 - 17 3,36 3.080 633.584 31.242.423 134.436 261.561 - 127.125 237.328.938
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
28/02/2018 505 - 10 1,94 2.431 510.234 25.694.034 2.076.711 550.891 1.525.820 237.456.063
27/02/2018 515 - 15 2,83 2.903 735.409 38.583.950 7.005.728 9.468.915 - 2.463.187 235.930.243
26/02/2018 530 + 25 4,95 5.169 1.983.841 103.353.572 33.680.483 20.660.792 13.019.691 238.393.430
23/02/2018 505 + 13 2,64 2.684 965.340 48.716.079 11.035.090 3.944.657 7.090.433 225.373.739
22/02/2018 492 + 2 0,4 6.282 2.061.701 102.917.988 17.412.179 6.097.707 11.314.472 218.283.306
21/02/2018 490 - 0 3.752 1.260.329 61.918.283 18.827.125 441.305 18.385.820 206.968.834
20/02/2018 490 + 40 8,88 14.829 6.100.826 293.626.967 17.123.240 3.160.394 13.962.846 188.583.014
19/02/2018 450 + 20 4,65 4.350 2.047.087 90.820.930 21.058.217 4.453.941 16.604.276 174.620.168
15/02/2018 430 + 10 2,38 4.807 1.017.442 43.818.528 3.911.425 1.675.787 2.235.638 158.015.892
14/02/2018 420 + 14 3,44 3.171 1.145.692 48.102.615 14.642.243 1.818.746 12.823.497 155.780.254
13/02/2018 406 - 0 2.799 927.492 38.127.192 9.824 125.905 - 116.081 142.956.757
12/02/2018 406 + 12 3,04 2.780 1.001.011 40.059.095 255.085 1.070.681 - 815.596 143.072.838
09/02/2018 394 - 16 3,9 2.031 519.572 20.584.083 44.567 953.225 - 908.658 143.888.434
08/02/2018 410 - 2 0,48 1.875 455.189 18.428.907 515.734 245.345 270.389 144.797.092
07/02/2018 412 + 4 0,98 1.782 607.239 25.242.124 7.652 179.657 - 172.005 144.526.703
06/02/2018 408 - 18 4,22 6.413 1.579.115 63.927.141 3.483.630 1.117.817 2.365.813 144.698.708
05/02/2018 426 - 18 4,05 2.177 558.718 23.942.991 74.433 324.389 - 249.956 142.332.895
02/02/2018 444 + 10 2,3 3.783 1.113.042 49.668.282 3.050.655 1.230.705 1.819.950 142.582.851
01/02/2018 434 + 8 1,87 2.819 711.536 30.888.688 4.971.134 1.144.258 3.826.876 140.762.901
31/01/2018 426 - 0 4.449 1.150.651 48.456.073 5.600.645 1.979.192 3.621.453 136.936.025
30/01/2018 426 - 32 6,98 5.337 1.389.231 60.005.287 1.451.773 5.169.942 - 3.718.169 133.314.572
29/01/2018 458 + 4 0,88 1.734 563.304 25.819.565 265.800 1.575.293 - 1.309.493 137.032.741
26/01/2018 454 - 4 0,87 2.349 610.951 27.701.881 1.695.461 1.283.878 411.583 138.342.234
25/01/2018 458 + 8 1,77 4.935 1.384.336 63.670.663 1.127.811 857.877 269.934 137.930.651
24/01/2018 450 + 10 2,27 6.304 2.460.630 110.651.410 6.194.124 1.015.664 5.178.460 137.660.717
23/01/2018 440 + 12 2,8 3.839 1.564.613 68.631.603 6.873.101 336.229 6.536.872 132.482.257
22/01/2018 428 + 2 0,46 2.071 640.961 27.515.895 8.924.956 906.961 8.017.995 125.945.385
19/01/2018 426 + 2 0,47 1.758 567.107 24.066.643 9.591.346 141.286 9.450.060 117.927.390
18/01/2018 424 - 6 1,39 3.460 1.089.392 46.797.259 2.100.922 348.009 1.752.913 108.477.330
17/01/2018 430 - 4 0,92 5.893 1.599.833 68.156.926 3.664.813 1.619.139 2.045.674 106.724.417
16/01/2018 434 + 2 0,46 4.494 1.609.914 70.651.260 1.337.235 968.546 368.689 104.678.743
15/01/2018 432 + 16 3,84 4.653 1.721.612 74.086.233 8.641.426 513.504 8.127.922 104.310.054
12/01/2018 416 + 2 0,48 3.222 1.341.907 56.431.846 18.867.623 3.372.919 15.494.704 96.182.132
11/01/2018 414 - 6 1,42 4.478 1.258.828 52.527.216 5.219.085 746.846 4.472.239 80.687.428
10/01/2018 420 + 22 5,52 6.828 3.114.097 128.848.060 17.013.443 1.861.866 15.151.577 76.215.189
09/01/2018 398 + 4 1,01 4.039 1.204.258 48.270.033 1.506.182 2.339.803 - 833.621 61.063.612
08/01/2018 394 - 2 0,5 2.238 512.176 20.211.827 1.782.040 37.332 1.744.708 61.897.233
05/01/2018 396 - 4 1 3.668 1.102.880 44.079.719 6.085.548 268.128 5.817.420 60.152.525
04/01/2018 400 + 16 4,16 6.144 2.351.769 93.544.213 14.391.690 2.557.253 11.834.437 54.335.105
03/01/2018 384 - 0 3.246 1.149.983 44.542.140 1.756.180 604.399 1.151.781 42.500.668
02/01/2018 384 + 12 3,22 4.616 2.293.212 88.087.676 1.850.187 361.252 1.488.935 41.348.887
29/12/2017 372 - 0 2.187 754.688 28.240.528 30.120 88.694 - 58.574 39.859.952
28/12/2017 372 - 8 2,1 3.220 944.138 35.536.769 323.708 357.455 - 33.747 39.918.526
27/12/2017 380 + 24 6,74 5.613 1.980.437 74.464.496 611.988 165.283 446.705 39.952.273
22/12/2017 356 - 4 1,11 1.140 260.629 9.336.560 186.635 261.518 - 74.883 39.505.568
21/12/2017 360 + 2 0,55 1.953 545.101 19.854.043 200.028 129.582 70.446 39.580.451
20/12/2017 358 - 4 1,1 2.055 447.976 16.132.369 7.427 22.721 - 15.294 39.510.005
19/12/2017 362 - 6 1,63 3.191 998.328 36.601.521 83.755 749.300 - 665.545 39.525.299
18/12/2017 368 - 2 0,54 1.816 317.718 11.667.085 264.790 391.773 - 126.983 40.190.844
15/12/2017 370 - 4 1,06 2.174 460.108 17.129.345 3.330 257.009 - 253.679 40.317.827
14/12/2017 374 + 4 1,08 3.772 826.835 30.482.138 557.041 698.831 - 141.790 40.571.506
13/12/2017 370 + 8 2,2 3.901 1.415.992 52.063.860 328.350 2.830.112 - 2.501.762 40.713.296
12/12/2017 362 + 28 8,38 4.106 1.807.904 63.873.759 431.815 425.910 5.905 43.215.058
11/12/2017 334 - 14 4,02 2.610 730.985 25.364.709 325.677 2.789.953 - 2.464.276 43.209.153
08/12/2017 348 + 10 2,95 2.689 703.981 24.466.394 1.780.200 1.904.620 - 124.420 45.673.429
07/12/2017 338 - 12 3,42 3.776 971.763 33.120.579 3.503.680 1.460.212 2.043.468 45.797.849
06/12/2017 350 - 16 4,37 3.751 1.106.160 39.664.833 4.147.834 469.266 3.678.568 43.754.381
05/12/2017 366 - 28 7,1 8.624 2.925.826 108.362.146 3.893.873 2.508.200 1.385.673 40.075.813
04/12/2017 394 + 18 4,78 3.673 1.921.036 74.325.527 3.975.363 1.795.472 2.179.891 38.690.140
30/11/2017 376 - 10 2,59 2.232 783.478 29.680.016 196.956 1.155.391 - 958.435 36.510.249
29/11/2017 386 - 2 0,51 1.863 630.458 24.485.975 1.738.522 266.732 1.471.790 37.468.684
28/11/2017 388 - 16 3,96 5.269 1.773.368 68.951.033 1.082.063 24.493 1.057.570 35.996.894
27/11/2017 404 - 4 0,98 1.697 456.439 18.604.243 1.046.992 532.705 514.287 34.939.324
24/11/2017 408 + 2 0,49 1.825 602.576 24.590.088 911.823 1.034.854 - 123.031 34.425.037
23/11/2017 406 - 8 1,93 4.575 1.544.871 63.546.742 2.343.877 263.224 2.080.653 34.548.068
22/11/2017 414 + 20 5,07 5.147 3.146.413 129.127.725 4.907.249 1.668.263 3.238.986 32.467.415
21/11/2017 394 - 4 1 10.737 4.640.844 186.897.396 3.829.563 512.684 3.316.879 29.228.429
20/11/2017 398 + 22 5,85 5.384 2.503.140 97.879.255 2.845.849 3.653.934 - 808.085 25.911.550
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
17/11/2017 376 + 4 1,07 1.881 875.109 32.927.009 2.340.065 306.038 2.034.027 26.719.635
16/11/2017 372 - 2 0,53 2.901 1.260.418 47.517.350 425.054 809.783 - 384.729 24.685.608
15/11/2017 374 - 2 0,53 2.854 1.096.060 41.079.153 6.603.309 2.946.116 3.657.193 25.070.337
14/11/2017 376 - 18 4,56 4.115 1.494.244 57.134.595 908.256 1.011.334 - 103.078 21.413.144
13/11/2017 394 - 0 4.300 1.442.680 56.654.588 2.644.227 1.493.521 1.150.706 21.516.222
10/11/2017 394 + 30 8,24 10.521 5.391.896 209.073.020 13.840.018 11.193.300 2.646.718 20.365.516
09/11/2017 364 - 6 1,62 9.488 3.947.291 147.275.668 9.749.874 1.583.202 8.166.672 17.718.798
08/11/2017 370 + 30 8,82 10.496 4.592.343 164.340.246 19.461.907 5.568.373 13.893.534 9.552.126
07/11/2017 340 + 24 7,59 7.609 3.046.724 100.812.092 20.150.696 660.189 19.490.507 - 4.341.408
06/11/2017 316 + 14 4,63 3.782 1.187.203 37.106.104 2.570.189 873.851 1.696.338 - 23.831.915
03/11/2017 302 - 6 1,94 1.332 369.302 11.221.461 50.422 113.412 - 62.990 - 25.528.253
02/11/2017 308 - 0 2.593 628.593 19.411.958 219.650 108.289 111.361 - 25.465.263
01/11/2017 308 - 0 2.868 884.566 27.257.669 348.008 2.602.926 - 2.254.918 - 25.576.624
31/10/2017 308 - 18 5,52 3.499 1.309.007 41.100.481 141.887 2.713.197 - 2.571.310 - 23.321.706
30/10/2017 326 + 8 2,51 3.086 1.170.824 38.310.410 1.942.737 6.150.002 - 4.207.265 - 20.750.396
27/10/2017 318 - 2 0,62 1.065 328.627 10.522.075 6.440 982.215 - 975.775 - 16.543.131
26/10/2017 320 - 6 1,84 1.646 367.029 11.789.872 112.558 1.167.047 - 1.054.489 - 15.567.356
25/10/2017 326 + 10 3,16 1.923 882.830 28.520.732 3.588.452 3.295.081 293.371 - 14.512.867
24/10/2017 316 - 4 1,25 1.718 516.626 16.469.165 17.789 883.716 - 865.927 - 14.806.238
23/10/2017 320 - 0 1.181 348.538 11.189.095 169.069 161.664 7.405 - 13.940.311
20/10/2017 320 - 0 1.822 750.811 24.347.740 9.548.634 6.810.048 2.738.586 - 13.947.716
19/10/2017 320 - 8 2,43 1.885 607.435 19.615.453 2.286.520 5.119 2.281.401 - 16.686.302
18/10/2017 328 - 4 1,2 1.920 620.681 20.442.899 4.283.148 1.078 4.282.070 - 18.967.703
17/10/2017 332 - 0 4.480 1.712.327 57.358.244 8.801.953 696.617 8.105.336 - 23.249.773
16/10/2017 332 + 6 1,84 2.472 834.834 27.569.928 5.871.124 628.673 5.242.451 - 31.355.109
13/10/2017 326 + 8 2,51 4.795 1.692.214 55.300.539 686.143 1.466.265 - 780.122 - 36.597.560
12/10/2017 318 - 0 2.968 1.401.127 44.778.727 16.993.166 118.025 16.875.141 - 35.817.438
11/10/2017 318 + 4 1,27 6.116 2.057.356 65.948.363 1.744.959 1.085.727 659.232 - 52.692.579
10/10/2017 314 + 12 3,97 4.543 1.803.808 56.103.835 913.999 155.497 758.502 - 53.351.811
09/10/2017 302 + 6 2,02 1.829 656.487 19.791.224 2.679.976 681.010 1.998.966 - 54.110.313
06/10/2017 296 - 2 0,67 1.145 329.730 9.881.979 38.293 355.397 - 317.104 - 56.109.279
05/10/2017 298 - 2 0,66 2.927 784.684 23.772.624 527.721 447.132 80.589 - 55.792.175
04/10/2017 300 + 4 1,35 2.365 787.419 23.590.162 185.558 334.952 - 149.394 - 55.872.764
03/10/2017 296 - 4 1,33 1.747 622.797 18.631.144 1.268.938 32.009 1.236.929 - 55.723.370
02/10/2017 300 - 4 1,31 2.802 1.019.526 31.214.171 209.649 295.167 - 85.518 - 56.960.299
29/09/2017 304 + 6 2,01 3.970 1.810.815 54.688.544 13.201.405 903.903 12.297.502 - 56.874.781
28/09/2017 298 - 8 2,61 2.752 927.443 28.011.010 68.766 1.809.901 - 1.741.135 - 69.172.283
27/09/2017 306 - 4 1,29 6.877 3.637.675 108.965.018 13.959.051 480.623 13.478.428 - 67.431.148
26/09/2017 310 + 4 1,3 6.304 2.580.370 81.787.563 510.339 1.474.154 - 963.815 - 80.909.576
25/09/2017 306 - 0 3.696 1.330.283 40.975.694 2.998.326 682.749 2.315.577 - 79.945.761
22/09/2017 306 - 8 2,54 3.701 1.348.906 41.833.012 213.201 2.517.819 - 2.304.618 - 82.261.338
20/09/2017 314 + 22 7,53 11.341 5.032.303 154.739.268 2.838.214 861.574 1.976.640 - 79.956.720
19/09/2017 292 + 16 5,79 8.310 3.254.759 95.066.509 588.450 655.625 - 67.175 - 81.933.360
18/09/2017 276 + 4 1,47 1.987 610.016 16.757.181 374.300 399.879 - 25.579 - 81.866.185
15/09/2017 272 - 0 3.492 1.039.310 28.893.214 194.000 1.320.889 - 1.126.889 - 81.840.606
14/09/2017 272 - 12 4,22 11.840 5.641.218 161.639.257 1.367.817 1.174.516 193.301 - 80.713.717
13/09/2017 284 + 56 24,56 12.972 5.885.109 157.124.705 15.449.636 1.658.019 13.791.617 - 80.907.018
12/09/2017 228 - 6 2,56 1.080 325.852 7.514.623 272.269 41.725 230.544 - 94.698.635
11/09/2017 234 - 0 1.073 278.061 6.539.245 912 158.671 - 157.759 - 94.929.179
08/09/2017 234 - 6 2,5 1.265 270.028 6.380.117 117.000 50.953 66.047 - 94.771.420
07/09/2017 240 + 6 2,56 3.237 958.390 23.304.072 248.732 1.083.241 - 834.509 - 94.837.467
06/09/2017 234 + 2 0,86 1.423 448.367 10.598.282 103.925 743.945 - 640.020 - 94.002.958
05/09/2017 232 - 8 3,33 2.231 666.755 15.514.954 1.636.655 887.585 749.070 - 93.362.938
04/09/2017 240 - 14 5,51 2.522 770.633 18.874.508 916.206 25 916.181 - 94.112.008
31/08/2017 254 - 2 0,78 1.046 252.800 6.458.216 30.592 - 30.592 - 95.028.189
30/08/2017 256 - 0 2.231 666.613 17.220.421 1.343.160 6.601 1.336.559 - 95.058.781
29/08/2017 256 - 0 658 181.757 4.654.470 - 17.280 - 17.280 - 96.395.340
28/08/2017 256 - 4 1,53 2.152 531.029 13.835.206 296.055 - 296.055 - 96.378.060
25/08/2017 260 - 8 2,98 1.032 405.343 10.691.776 195.320 163.821 31.499 - 96.674.115
24/08/2017 268 + 4 1,51 3.750 1.276.655 34.330.822 286.034 1.246.214 - 960.180 - 96.705.614
23/08/2017 264 + 14 5,6 4.738 1.667.102 43.609.819 130.546 895.102 - 764.556 - 95.745.434
22/08/2017 250 - 2 0,79 1.309 390.195 9.834.343 191.711 1.060.046 - 868.335 - 94.980.878
21/08/2017 252 - 2 0,78 1.983 633.015 16.187.072 56.295 2.419.795 - 2.363.500 - 94.112.543
18/08/2017 254 - 0 1.520 626.885 16.006.060 76.702 1.779.837 - 1.703.135 - 91.749.043
16/08/2017 254 - 0 2.025 345.719 8.766.529 1.665.070 990.394 674.676 - 90.045.908
15/08/2017 254 + 2 0,79 855 301.054 7.633.429 169.875 172.085 - 2.210 - 90.720.584
14/08/2017 252 - 4 1,56 2.028 919.388 23.512.825 293.000 496.416 - 203.416 - 90.718.374
11/08/2017 256 - 12 4,47 3.534 1.439.728 37.284.635 821.611 434.836 386.775 - 90.514.958
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
10/08/2017 268 + 18 7,19 7.448 3.880.973 104.473.697 806.090 1.187.719 - 381.629 - 90.901.733
09/08/2017 250 - 6 2,34 2.188 261.574 6.585.033 18.321 1.604.755 - 1.586.434 - 90.520.104
08/08/2017 256 + 10 4,06 2.293 798.167 20.336.283 486.822 26.560 460.262 - 88.933.670
07/08/2017 246 - 2 0,8 766 130.633 3.237.089 11.656 - 11.656 - 89.393.932
04/08/2017 248 - 8 3,12 1.621 440.240 11.030.025 473.218 953.689 - 480.471 - 89.405.588
03/08/2017 256 - 2 0,77 984 330.213 8.544.820 797.696 1.752.334 - 954.638 - 88.925.117
02/08/2017 258 - 10 3,73 1.892 469.719 12.239.744 704.565 27.355 677.210 - 87.970.479
01/08/2017 268 - 0 1.265 446.056 12.026.438 107.486 543.496 - 436.010 - 88.647.689
31/07/2017 268 - 6 2,18 1.870 652.808 17.702.165 3.132.056 1.740 3.130.316 - 88.211.679
28/07/2017 274 - 2 0,72 918 333.806 9.224.510 2.224 376.741 - 374.517 - 91.341.995
27/07/2017 276 - 2 0,71 750 193.530 5.361.584 617.580 102.008 515.572 - 90.967.478
26/07/2017 278 + 4 1,45 965 337.691 9.422.039 - 754.468 - 754.468 - 91.483.050
25/07/2017 274 - 4 1,43 910 228.297 6.319.533 777.129 83.553 693.576 - 90.728.582
24/07/2017 278 - 2 0,71 871 255.415 7.100.947 80.620 671.158 - 590.538 - 91.422.158
21/07/2017 280 - 6 2,09 2.368 469.245 13.289.767 283.126 1.238.293 - 955.167 - 90.831.620
20/07/2017 286 + 6 2,14 2.866 943.992 27.135.391 5.868 522.584 - 516.716 - 89.876.453
19/07/2017 280 - 0 841 282.380 7.901.183 4.200 1.476.465 - 1.472.265 - 89.359.737
18/07/2017 280 - 2 0,7 638 142.155 3.987.756 - - - - 87.887.472
17/07/2017 282 + 4 1,43 940 204.379 5.764.561 28.400 1.128 27.272 - 87.887.472
14/07/2017 278 - 0 705 218.032 6.080.819 - 88.185 - 88.185 - 87.914.744
13/07/2017 278 - 4 1,41 632 177.524 4.985.285 - 40.922 - 40.922 - 87.826.559
12/07/2017 282 + 6 2,17 2.028 460.631 13.000.457 2.026 85.282 - 83.256 - 87.785.637
11/07/2017 276 - 0 848 233.034 6.484.649 - 222.858 - 222.858 - 87.702.381
10/07/2017 276 - 4 1,42 448 88.551 2.449.531 - 27.521 - 27.521 - 87.479.523
07/07/2017 280 + 2 0,71 612 220.675 6.179.797 - 10.007 - 10.007 - 87.452.002
06/07/2017 278 - 4 1,41 1.637 361.645 10.070.384 - 2.641.443 - 2.641.443 - 87.441.995
05/07/2017 282 - 2 0,7 1.236 376.143 10.707.207 - 66.717 - 66.717 - 84.800.552
04/07/2017 284 + 6 2,15 3.981 1.445.376 41.489.744 927.056 1.881.247 - 954.191 - 84.733.835
03/07/2017 278 + 4 1,45 1.141 314.044 8.807.692 194.121 970.380 - 776.259 - 83.779.644
22/06/2017 274 - 0 1.049 294.500 8.102.669 1.941.975 2.320.788 - 378.813 - 83.003.385
21/06/2017 274 - 6 2,14 890 171.121 4.721.371 350.354 1.149.954 - 799.600 - 82.624.572
20/06/2017 280 + 4 1,44 1.041 246.838 6.897.533 15.595 84.168 - 68.573 - 81.824.972
19/06/2017 276 - 8 2,81 1.946 330.210 9.248.388 645.069 1.491.072 - 846.003 - 81.756.399
16/06/2017 284 - 4 1,38 1.149 234.916 6.737.064 867.028 1.052.184 - 185.156 - 80.910.396
15/06/2017 288 - 6 2,04 2.002 377.196 10.958.283 - 4.304.975 - 4.304.975 - 80.725.240
14/06/2017 294 - 4 1,34 2.162 350.016 10.327.726 46.565 3.817.288 - 3.770.723 - 76.420.265
13/06/2017 298 - 0 1.096 324.569 9.715.150 5.364 1.867.970 - 1.862.606 - 72.649.542
12/06/2017 298 - 2 0,66 1.529 352.431 10.557.127 1.355.253 3.567.507 - 2.212.254 - 70.786.936
09/06/2017 300 - 0 1.366 184.381 5.518.727 159.523 1.159.705 - 1.000.182 - 68.574.682
08/06/2017 300 - 4 1,31 1.306 278.503 8.357.470 - 944.151 - 944.151 - 67.574.500
07/06/2017 304 + 2 0,66 1.161 271.916 8.282.234 319.300 114.358 204.942 - 66.630.349
06/06/2017 302 - 6 1,94 1.467 344.897 10.486.913 20.717 900.376 - 879.659 - 66.835.291
05/06/2017 308 + 4 1,31 2.146 516.061 15.872.304 382.902 613.238 - 230.336 - 65.955.632
02/06/2017 304 - 4 1,29 1.749 324.641 9.860.308 1.611.939 4.346.647 - 2.734.708 - 65.725.296
31/05/2017 308 - 0 1.939 294.692 9.019.872 775.677 3.235.273 - 2.459.596 - 62.990.588
30/05/2017 308 - 2 0,64 1.454 262.253 8.136.805 - 700.635 - 700.635 - 60.530.992
29/05/2017 310 + 2 0,64 2.002 400.609 12.498.076 417.792 1.319.965 - 902.173 - 59.830.357
26/05/2017 308 - 10 3,14 2.100 441.949 13.674.016 40.201 4.201.875 - 4.161.674 - 58.928.184
24/05/2017 318 - 4 1,24 2.289 663.662 21.183.101 9.985 7.674.709 - 7.664.724 - 54.766.510
23/05/2017 322 + 2 0,62 1.905 555.898 17.898.566 8.671 3.047.349 - 3.038.678 - 47.101.786
22/05/2017 320 + 4 1,26 5.311 1.499.160 49.142.738 123.824 9.943.760 - 9.819.936 - 44.063.108
19/05/2017 316 + 4 1,28 1.714 453.816 14.255.183 - 5.520.967 - 5.520.967 - 34.243.172
18/05/2017 312 - 0 2.315 662.239 20.757.119 - 7.446.881 - 7.446.881 - 28.722.205
17/05/2017 312 - 14 4,29 2.153 420.348 13.235.033 261.794 2.563.968 - 2.302.174 - 21.275.324
16/05/2017 326 - 4 1,21 5.993 1.496.001 49.807.104 212.538 997.298 - 784.760 - 18.973.150
15/05/2017 330 + 30 10 4.363 1.152.539 36.411.243 1.124.192 7.480.103 - 6.355.911 - 18.188.390
12/05/2017 300 - 10 3,22 2.460 524.712 16.216.629 43.547 10.747.348 - 10.703.801 - 11.832.479
10/05/2017 310 - 18 5,48 1.879 420.305 13.363.866 191.207 6.524.666 - 6.333.459 - 1.128.678
09/05/2017 328 - 14 4,09 2.462 524.292 17.401.086 424.706 7.865.232 - 7.440.526 5.204.781
08/05/2017 342 + 2 0,58 1.796 294.042 10.126.578 36.000 4.076.856 - 4.040.856 12.645.307
05/05/2017 340 - 2 0,58 1.541 282.161 9.536.748 1.215.095 1.985.722 - 770.627 16.686.163
04/05/2017 342 - 18 5 2.049 426.717 14.921.020 460.483 4.526.066 - 4.065.583 17.456.790
03/05/2017 360 - 12 3,22 1.496 273.843 10.058.459 929.800 1.401.590 - 471.790 21.522.373
02/05/2017 372 - 6 1,58 1.776 282.733 10.614.356 187.584 199.962 - 12.378 21.994.163
28/04/2017 378 - 6 1,56 1.761 334.914 12.741.904 919.373 2.430.828 - 1.511.455 22.006.541
27/04/2017 384 - 8 2,04 1.758 593.694 22.818.403 5.582.017 747.205 4.834.812 23.517.996
26/04/2017 392 + 12 3,15 2.155 733.974 28.491.426 4.419.276 2.953.632 1.465.644 18.683.184
25/04/2017 380 - 8 2,06 2.697 981.950 37.191.506 3.457.151 3.673.964 - 216.813 17.217.540
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
21/04/2017 388 + 2 0,51 3.474 1.063.860 41.835.702 4.898.576 3.096.284 1.802.292 17.434.353
20/04/2017 386 - 12 3,01 1.990 452.098 17.594.822 4.825 1.592.238 - 1.587.413 15.632.061
18/04/2017 398 - 4 0,99 1.553 327.771 13.148.910 1.537.040 1.483.457 53.583 17.219.474
17/04/2017 402 - 8 1,95 1.529 242.725 9.828.521 80.800 568.381 - 487.581 17.165.891
13/04/2017 410 - 14 3,3 2.856 652.259 27.230.467 108.600 941.987 - 833.387 17.653.472
12/04/2017 424 - 16 3,63 6.234 1.788.033 77.873.307 1.231.881 1.104.189 127.692 18.486.859
11/04/2017 440 + 50 12,82 8.064 3.242.486 135.275.679 3.581.042 1.118.318 2.462.724 18.359.167
10/04/2017 390 - 6 1,51 2.241 640.792 25.238.322 31.982 2.390.264 - 2.358.282 15.896.443
07/04/2017 396 + 16 4,21 4.635 1.549.072 61.550.314 588 936.520 - 935.932 18.254.725
06/04/2017 380 - 6 1,55 872 117.186 4.486.083 405.829 876.810 - 470.981 19.190.657
05/04/2017 386 + 8 2,11 1.818 314.546 12.129.552 602.708 1.301.457 - 698.749 19.661.638
04/04/2017 378 - 4 1,04 1.186 183.805 6.962.689 342 23.566 - 23.224 20.360.387
03/04/2017 382 - 6 1,54 1.181 260.627 10.001.232 38.783 1.487.446 - 1.448.663 20.383.611
31/03/2017 388 - 2 0,51 1.561 341.409 13.379.403 57.277 2.263.442 - 2.206.165 21.832.274
30/03/2017 390 - 6 1,51 3.695 872.491 35.072.576 494.381 2.796.652 - 2.302.271 24.038.439
29/03/2017 396 + 16 4,21 2.526 605.684 23.938.291 3.033.182 1.533.414 1.499.768 26.340.710
27/03/2017 380 - 2 0,52 851 123.867 4.742.933 1.200.621 29.986 1.170.635 24.840.942
24/03/2017 382 - 0 538 61.689 2.352.561 586.820 2.483 584.337 23.670.307
23/03/2017 382 + 2 0,52 832 91.507 3.503.117 634.757 523.735 111.022 23.085.970
22/03/2017 380 - 6 1,55 890 128.942 4.921.033 847.542 1.877.338 - 1.029.796 22.974.948
21/03/2017 386 + 2 0,52 857 124.766 4.811.279 1.223.616 1.001.165 222.451 24.004.744
20/03/2017 384 - 2 0,51 818 110.297 4.264.744 1.296.417 567.699 728.718 23.782.293
17/03/2017 386 - 0 879 127.983 4.949.285 1.213.445 211.711 1.001.734 23.053.575
16/03/2017 386 - 4 1,02 1.384 231.574 9.009.764 872.932 717.337 155.595 22.051.841
15/03/2017 390 + 2 0,51 1.268 193.353 7.556.840 1.830.252 32.564 1.797.688 21.896.246
14/03/2017 388 + 6 1,57 1.118 267.486 10.340.665 2.582.166 757.284 1.824.882 20.098.558
13/03/2017 382 - 6 1,54 1.543 227.932 8.740.491 2.361.095 1.988.355 372.740 18.273.676
10/03/2017 388 - 8 2,02 1.564 267.068 10.461.200 2.676.298 1.334.974 1.341.324 17.900.936
09/03/2017 396 - 8 1,98 2.000 320.291 12.767.623 2.710.287 3.020.153 - 309.866 16.559.612
08/03/2017 404 - 2 0,49 1.251 197.749 8.033.564 2.516.991 1.588.580 928.411 16.869.478
07/03/2017 406 - 2 0,49 904 176.688 7.221.735 1.631.355 700.510 930.845 15.941.067
06/03/2017 408 - 0 1.548 228.680 9.397.260 2.869.984 3.258.421 - 388.437 15.010.222
03/03/2017 408 - 4 0,97 1.740 282.157 11.611.963 3.184.363 303.649 2.880.714 15.398.659
02/03/2017 412 - 2 0,48 1.642 336.051 13.940.417 483.009 2.069.943 - 1.586.934 12.517.945
01/03/2017 414 - 14 3,27 3.162 600.179 25.418.395 4.783.483 1.399.407 3.384.076 14.104.879
28/02/2017 428 + 22 5,41 5.259 1.834.842 78.567.555 5.609.216 1.363.977 4.245.239 10.720.803
27/02/2017 406 - 0 1.034 122.431 4.988.860 764.865 1.084.605 - 319.740 6.475.564
24/02/2017 406 - 8 1,93 1.815 349.260 14.356.431 2.647.286 4.923.364 - 2.276.078 6.795.304
23/02/2017 414 + 2 0,48 1.087 207.552 8.603.327 1.139.648 302.587 837.061 9.071.382
22/02/2017 412 - 4 0,96 1.807 418.456 17.508.725 2.997.390 4.201.394 - 1.204.004 8.234.321
21/02/2017 416 - 0 1.379 253.777 10.629.906 2.050.035 223.238 1.826.797 9.438.325
20/02/2017 416 - 2 0,47 2.027 347.523 14.537.823 2.201.954 1.557.279 644.675 7.611.528
17/02/2017 418 - 2 0,47 1.528 231.444 9.714.610 2.660.042 1.219.569 1.440.473 6.966.853
16/02/2017 420 - 6 1,4 1.712 399.256 16.864.563 1.591.136 1.209.001 382.135 5.526.380
14/02/2017 426 + 4 0,94 2.453 790.973 34.135.371 945.481 254.062 691.419 5.144.245
13/02/2017 422 - 4 0,93 1.502 278.305 11.863.965 192.300 1.200.927 - 1.008.627 4.452.826
10/02/2017 426 + 4 0,94 1.187 284.910 12.190.674 969.807 201.284 768.523 5.461.453
09/02/2017 422 - 6 1,4 1.644 415.295 17.635.013 967.207 909.324 57.883 4.692.930
08/02/2017 428 + 4 0,94 1.407 219.987 9.351.602 3.004.413 256.845 2.747.568 4.635.047
07/02/2017 424 - 4 0,93 1.819 620.589 26.438.534 107.820 683.442 - 575.622 1.887.479
06/02/2017 428 - 4 0,92 2.137 431.257 18.531.458 226.925 1.941.377 - 1.714.452 2.463.101
03/02/2017 432 - 4 0,91 2.231 344.775 14.936.018 290.659 2.836.081 - 2.545.422 4.177.553
02/02/2017 436 + 4 0,92 1.597 387.099 17.029.247 1.643.831 1.884.225 - 240.394 6.722.975
01/02/2017 432 - 0 1.498 279.269 12.139.783 1.856.915 1.123.479 733.436 6.963.369
31/01/2017 432 - 6 1,36 835 192.020 8.330.702 - 543.721 - 543.721 6.229.933
30/01/2017 438 - 4 0,9 1.237 600.213 26.410.915 3.400 918.452 - 915.052 6.773.654
27/01/2017 442 - 12 2,64 1.328 297.027 13.359.422 904 816.425 - 815.521 7.688.706
26/01/2017 454 - 2 0,43 858 164.589 7.472.460 27.106 77.974 - 50.868 8.504.227
25/01/2017 456 - 6 1,29 2.857 644.546 29.761.418 3.950.330 1.741.631 2.208.699 8.555.095
24/01/2017 462 + 18 4,05 5.314 1.694.254 77.828.403 3.975.507 4.092.828 - 117.321 6.346.396
23/01/2017 444 + 18 4,22 3.233 1.170.760 51.648.609 1.825.804 1.102.340 723.464 6.463.717
20/01/2017 426 - 4 0,93 677 152.971 6.538.267 709.897 1.120.850 - 410.953 5.740.253
19/01/2017 430 - 2 0,46 958 243.505 10.450.479 931.185 361.224 569.961 6.151.206
18/01/2017 432 + 6 1,4 1.153 221.419 9.533.635 1.170.466 256.271 914.195 5.581.245
17/01/2017 426 + 2 0,47 1.072 196.229 8.401.653 1.128.336 245.856 882.480 4.667.050
16/01/2017 424 - 6 1,39 1.622 291.744 12.472.768 1.725.561 97.359 1.628.202 3.784.570
13/01/2017 430 - 8 1,82 1.701 326.230 14.157.038 1.778.904 499.607 1.279.297 2.156.368
12/01/2017 438 + 4 0,92 1.101 242.313 10.626.136 - 101.805 - 101.805 877.071
Appendix 5
ELSA - Foreign Flow Data
Date Close Change(%) Change(%) Freq Volume Value Buy Sell Net Net Accumulated Inventory
11/01/2017 434 - 4 0,91 1.439 236.324 10.313.332 85.522 126.515 - 40.993 978.876
10/01/2017 438 - 12 2,66 1.805 398.319 17.548.072 52.104 353 51.751 1.019.869
09/01/2017 450 + 12 2,73 3.463 975.252 43.663.419 356.061 1.538.965 - 1.182.904 968.118
06/01/2017 438 - 0 1.083 257.387 11.279.625 67.004 1.163.539 - 1.096.535 2.151.022
05/01/2017 438 + 2 0,45 1.455 305.303 13.415.273 1.533.964 175.638 1.358.326 3.247.557
04/01/2017 436 + 4 0,92 3.015 619.658 27.044.324 1.861.469 102.783 1.758.686 1.889.231
03/01/2017 432 + 12 2,85 1.654 345.491 14.820.088 230.394 99.849 130.545 130.545
Appendix 6
TKIM - 60 Weeks Analysis
Week Date TKIM Adj Close JKSE Adj Close TKIM Weekly Return TKIM 4-Week Return TKIM 6-Week Return TKIM 12-Weeks Return TKIM 24-Weeks Return TKIM Accumulated Return JKSE Return JKSE Accumulated Return Volume
7 18/04/2019 10075 6568,845215 -3,65% -8,78% -13,66% -12,79% -28,52% 214,68% 2,06% 12,10% 1024300
7 09/04/2019 10450 6434,618164 -3,99% 218,33% -0,72% 10,04% 1147100
7 29/03/2019 10875 6480,98291 -7,10% 222,32% -0,09% 10,76% 2032600
7 20/03/2019 11675 6486,882813 5,96% 229,41% 1,05% 10,85% 2100900
7 11/03/2019 11000 6418,882813 -1,58% -22,31% 223,46% -1,67% 9,79% 850400
7 28/02/2019 11175 6526,933105 -3,30% 225,04% 0,40% 11,46% 9024200
7 19/02/2019 11550 6500,701172 -10,67% 0,87% 228,34% -0,20% 11,06% 1381900
7 08/02/2019 12850 6513,743164 -6,77% 239,00% 1,05% 11,26% 3647400
7 30/01/2019 13750 6445,40918 8,14% 18,30% 245,77% -0,05% 10,21% 3794200
7 21/01/2019 12675 6448,536133 2,19% 237,63% 2,43% 10,26% 6215500
7 10/01/2019 12400 6293,958008 12,21% 235,44% 2,84% 7,83% 7347900
7 21/12/2018 10975 6117,835938 -4,24% 223,23% 0,33% 4,99% 4306900
7 12/12/2018 11450 6097,730957 1,76% 15,05% 13,04% -15,73% 227,47% -0,33% 4,66% 8607600
7 03/12/2018 11250 6118,063965 -12,91% 225,71% 3,01% 4,99% 15031800
7 22/11/2018 12800 5936,661133 13,80% 238,61% 3,11% 1,98% 12039400
7 13/11/2018 11150 5754,598145 12,40% 224,81% -2,04% -1,13% 13169300
7 02/11/2018 9850 5873,006836 -6,39% -31,52% 212,42% 1,32% 0,91% 9135500
7 24/10/2018 10500 5795,750977 4,38% 218,81% 0,16% -0,42% 8236000
7 15/10/2018 10050 5786,664063 -22,02% -28,77% 214,43% -1,05% -0,57% 22296200
7 04/10/2018 12525 5847,599121 -7,50% 236,44% -0,47% 0,47% 11789000
7 25/09/2018 13500 5875,158203 -8,86% 0,74% 243,94% 0,07% 0,94% 13307500
7 14/09/2018 14750 5870,984863 12,63% 252,79% 0,04% 0,87% 11118600
7 05/09/2018 13000 5868,775879 -17,59% 240,16% -2,11% 0,83% 13684200
7 27/08/2018 15500 5993,763184 14,56% 257,75% 3,49% 2,94% 14554600
7 16/08/2018 13400 5788,062988 -5,97% 0,00% -22,54% 75,69% 127,30% 243,20% -5,25% -0,55% 7819600
7 07/08/2018 14225 6100,00293 5,05% 249,17% 2,53% 4,70% 6341900
7 27/07/2018 13525 5947,355957 -2,73% 244,12% 1,33% 2,16% 13223500
7 18/07/2018 13900 5868,871094 3,66% 246,86% 2,57% 0,84% 6297400
7 09/07/2018 13400 5719,856934 -21,19% 13,79% 243,20% -1,25% -1,74% 10314600
7 28/06/2018 16563,31445 5791,583008 -1,35% 264,39% -4,91% -0,49% 9387500
7 08/06/2018 16787,81836 6083,332031 25,98% 98,23% 265,74% 0,76% 4,43% 11709300
7 30/05/2018 12946,32617 6037,434082 10,34% 239,75% 4,37% 3,67% 4410700
7 21/05/2018 11674,14356 5779,242188 40,87% 61,90% 229,41% -9,51% -0,70% 3571500
7 20/04/2018 7757,817383 6355,996094 10,86% 188,54% 0,05% 8,81% 0
7 11/04/2018 6959,585449 6352,60498 -0,71% 177,68% 2,52% 8,76% 3751800
7 02/04/2018 7009,475098 6194,513184 10,89% 178,40% -2,19% 6,24% 7714100
7 22/03/2018 6286,077148 6331,97998 0,00% 42,47% 36,35% 51,61% 167,50% -2,58% 8,43% 9726400
7 13/03/2018 6286,077148 6497,463867 -5,78% 167,50% -1,53% 11,01% 5909500
7 02/03/2018 6660,248535 6597,709961 37,01% 173,29% -0,78% 12,54% 9944800
7 21/02/2018 4599,812012 6649,179199 11,24% 136,27% 2,15% 13,32% 1942900
7 12/02/2018 4110,89502 6508,051758 -16,31% 32,39% 125,03% -1,79% 11,17% 2039300
7 01/02/2018 4839,281738 6625,354004 10,19% 141,35% 1,33% 12,96% 7053300
7 23/01/2018 4370,320313 6538,013184 32,65% 15,26% 131,15% 2,27% 11,63% 7914200
7 12/01/2018 3153,016602 6391,466797 5,86% 98,51% 0,79% 9,37% 9060600
7 03/01/2018 2973,414307 6341,270996 1,35% -23,25% 92,64% 4,45% 8,58% 723100
7 14/12/2017 2933,502686 6065,308105 5,60% 91,29% 0,73% 4,13% 2797200
7 05/12/2017 2773,856201 6021,084961 -24,45% 85,69% -0,72% 3,40% 9364600
7 24/11/2017 3542,154541 6064,672852 -5,75% 110,14% 1,04% 4,12% 872000
7 15/11/2017 3751,69043 6001,917969 5,75% 38,05% 54,97% 115,89% 115,89% 115,89% -0,49% 3,08% 3125800
7 06/11/2017 3542,154541 6031,518066 12,59% 110,14% 0,22% 3,57% 9077400
7 26/10/2017 3123,082764 6018,270996 1,29% 97,55% 1,01% 3,35% 3635100
7 17/10/2017 3083,171143 5957,580078 18,43% 96,27% 0,60% 2,34% 2089000
7 06/10/2017 2564,320313 5922,111816 13,30% 56,21% 77,84% 0,84% 1,74% 2912200
7 27/09/2017 2245,027588 5872,589844 3,62% 64,54% -0,04% 0,90% 6294500
7 18/09/2017 2165,204346 5875,111816 12,24% 60,92% 60,92% 0,86% 0,94% 4532000
7 07/09/2017 1915,756836 5824,515137 27,05% 48,68% -1,28% 0,08% 4774300
7 29/08/2017 1461,762451 5899,746094 7,81% 21,63% 21,63% 0,34% 1,36% 2064300
7 18/08/2017 1352,005493 5879,679199 12,15% 13,83% 1,13% 1,02% 1366000
7 09/08/2017 1197,348022 5813,604004 1,68% 1,68% -0,11% -0,11% 1155600
7 31/07/2017 1177,392212 5820,01123 0,00% 0,00% 0,00% 0,00% 32800
Total Data 60 15 10 5 3
Average Return 4% 14% 21% 43% 72%
Probability 64,52% 16,13% 10,75% 5,38% 3,23%
Range 41%
Probability (PTKIM) Possible Rate of Return (RTKIM) Expected Security Return RTKIM - E(R TKIM)
67% 5% 3,33% -4,67% 0,002177778 0,001451852
25% 15% 3,75% 5,33% 0,002844444 0,000711111
3% 25% 0,83% 15,33% 0,023511111 0,000783704
5% 35% 1,75% 25,33% 0,064177778 0,003208889
E(RTKIM)= 9,67% 0,006155556
8%
Appendix 7
TKIM - 60 Week Foreign Flow Analysis
Date TKIM Adj Close TKIM Weekly Return FF Accumulated Inventory FF % Inventory Change
18/04/2019 10075 -4% 1.697.902.187 0,11%
09/04/2019 10450 -4% 1.695.973.420 1,36%
29/03/2019 10875 -7% 1.673.184.855 1,48%
20/03/2019 11675 6% 1.648.786.782 1,34%
11/03/2019 11000 -2% 1.627.038.906 2,00%
28/02/2019 11175 -3% 1.595.092.939 0,09%
19/02/2019 11550 -11% 1.593.660.149 1,06%
08/02/2019 12850 -7% 1.577.014.946 3,34%
30/01/2019 13750 8% 1.526.047.724 5,81%
21/01/2019 12675 2% 1.442.263.171 5,25%
10/01/2019 12400 12% 1.370.356.646 7,65%
21/12/2018 10975 -4% 1.272.922.190 0,75%
12/12/2018 11450 2% 1.263.464.067 -0,29%
03/12/2018 11250 -13% 1.267.138.005 96,37%
22/11/2018 12800 14% 645.283.521 69,10%
13/11/2018 11150 12% 381.595.061 104,66%
02/11/2018 9850 -6% 186.453.530 23,07%
24/10/2018 10500 4% 151.503.278 300,05%
15/10/2018 10050 -22% 37.871.092 227,84%
04/10/2018 12525 -7% - 29.623.676 67,08%
25/09/2018 13500 -9% - 89.997.010 67,74%
14/09/2018 14750 13% - 278.992.828 5,84%
05/09/2018 13000 -18% - 296.310.153 28,49%
27/08/2018 15500 15% - 414.336.097 11,67%
16/08/2018 13400 -6% - 469.081.272 17,19%
07/08/2018 14225 5% - 566.474.794 -5,75%
27/07/2018 13525 -3% - 535.698.803 -22,97%
18/07/2018 13900 4% - 435.622.579 3,40%
09/07/2018 13400 -21% - 450.933.671 -11,30%
28/06/2018 16563,31445 -1% - 405.158.576 10,79%
08/06/2018 16787,81836 26% - 454.140.035 -8,16%
30/05/2018 12946,32617 10% - 419.876.624 -9,76%
21/05/2018 11674,14356 41% - 382.528.138 -41,91%
20/04/2018 7757,817383 11% - 269.549.743 -22,62%
11/04/2018 6959,585449 -1% - 219.824.806 -2,04%
02/04/2018 7009,475098 11% - 215.438.991 -8,31%
22/03/2018 6286,077148 0% - 198.914.765 -39,97%
13/03/2018 6286,077148 -6% - 142.110.428 -189,34%
02/03/2018 6660,248535 37% - 49.115.779 -66,61%
21/02/2018 4599,812012 11% - 29.479.795 -53,64%
12/02/2018 4110,89502 -16% - 19.187.267 20,49%
01/02/2018 4839,281738 10% - 24.132.430 -537,77%
23/01/2018 4370,320313 33% 5.512.621 -78,58%
12/01/2018 3153,016602 6% 25.732.834 -51,94%
03/01/2018 2973,414307 1% 53.548.207 20,00%
14/12/2017 2933,502686 6% 44.624.421 6,18%
05/12/2017 2773,856201 -24% 42.025.237 1,75%
24/11/2017 3542,154541 -6% 41.302.886 -4,04%
15/11/2017 3751,69043 6% 43.041.748 8,97%
Appendix 7
TKIM - 60 Week Foreign Flow Analysis
Date TKIM Adj Close TKIM Weekly Return FF Accumulated Inventory FF % Inventory Change
06/11/2017 3542,154541 13% 39.498.117 61,22%
26/10/2017 3123,082764 1% 24.499.463 12,29%
17/10/2017 3083,171143 18% 21.818.795 -5,80%
06/10/2017 2564,320313 13% 23.161.076 32,03%
27/09/2017 2245,027588 4% 17.541.678 7,17%
18/09/2017 2165,204346 12% 16.368.260 22,28%
07/09/2017 1915,756836 27% 13.385.744 0,08%
29/08/2017 1461,762451 8% 13.374.848 7,70%
18/08/2017 1352,005493 12% 12.418.376 -4,37%
09/08/2017 1197,348022 2% 12.986.501 4,28%
31/07/2017 1177,392212 0% 12.453.416 0,00%
Appendix 8
TKIM VS JKSE
Regression Result
SUMMARY OUTPUT
Regression Statistics
Multiple R 0,014123413
R Square 0,000199471
Adjusted R Square -0,017038469
Standard Error 0,133466686
Observations 60
ANOVA
df SS MS F Significance F
Regression 1 0,000206129 0,000206129 0,011571614 0,914706907
Residual 58 1,033174671 0,017813356
Total 59 1,033380801
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95,0% Upper 95,0%
Intercept 0,035944601 0,017298901 2,077854571 0,04215898 0,001317088 0,070572114 0,001317088 0,070572114
X Variable 1 -0,081967068 0,761977989 -0,107571438 0,914706907 -1,60723173 1,443297595 -1,60723173 1,443297595
RESIDUAL OUTPUT
SUMMARY OUTPUT
Regression Statistics
Multiple R 0,213440899
R Square 0,045557017
Adjusted R Square 0,029101104
Standard Error 0,130404084
Observations 60
ANOVA
df SS MS F Significance F
Regression 1 0,047077747 0,047077747 2,76842834 0,101534989
Residual 58 0,986303054 0,017005225
Total 59 1,033380801
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95,0% Upper 95,0%
Intercept 0,0362897 0,01683789 2,155240358 0,03530589 0,002585001 0,0699944 0,002585001 0,069994398
X Variable 1 -0,029788794 0,017903431 -1,663859472 0,10153499 -0,065626405 0,00604882 -0,065626405 0,006048818
RESIDUAL OUTPUT
Week Date ELSA Adj Close JKSE Adj Close ELSA Weekly Return ELSA 4-Weeks Return ELSA 6-Weeks Return ELSA 12-Weeks Return ELSA 24-Weeks Return Elsa Accumulated Return JKSE Return JKSE Accumulated Return ELSA Volume
7 18/04/2019 386 6507,221191 3% 5% -2% 12% 11% 38% 0% 11% 52036400
7 09/04/2019 376 6484,348145 4% 35% 0% 10% 21911600
7 29/03/2019 360 6468,754883 -2% 31% 0% 10% 8324400
7 20/03/2019 366 6482,709961 0% 32% 2% 10% 15879500
7 11/03/2019 366 6366,434082 -1% 2% 32% -1% 9% 26988100
7 28/02/2019 368 6443,348145 -6% 33% -1% 10% 20527800
7 19/02/2019 392 6494,666992 -1% 14% 39% 0% 11% 46055700
7 08/02/2019 394 6521,663086 10% 40% 1% 11% 68215500
7 30/01/2019 358 6464,188965 -3% 5% 30% 0% 10% 53201500
7 21/01/2019 368 6450,833984 2% 33% 2% 10% 33723900
7 10/01/2019 360 6328,713867 6% 31% 3% 8% 55832700
7 21/12/2018 340 6163,596191 -1% 25% 1% 5% 16290400
7 12/12/2018 342 6115,577148 2% -7% -3% -1% 26% 0% 5% 81787000
7 03/12/2018 334 6118,319824 4% 23% 2% 5% 87398000
7 22/11/2018 320 5990,810059 -10% 19% 3% 3% 16681100
7 13/11/2018 352 5835,198242 -4% 28% -1% 0% 25247500
7 02/11/2018 368 5906,291992 3% 0% 33% 3% 1% 16724600
7 24/10/2018 356 5709,416992 1% 30% 0% -2% 53592100
7 15/10/2018 354 5727,255859 -9% 2% 29% -1% -2% 26353700
7 04/10/2018 386 5756,619141 5% 38% -2% -1% 59635300
7 25/09/2018 368 5874,298828 4% 6% 33% -1% 1% 108157300
7 14/09/2018 352 5931,280762 6% 28% 4% 2% 24748200
7 05/09/2018 330 5683,500977 -10% 22% -6% -3% 94409600
7 27/08/2018 364 6025,967773 5% 32% 4% 3% 22667300
7 16/08/2018 346 5783,797852 -13% -2% -15% -31% -7% 27% -5% -1% 27214900
7 07/08/2018 394 6091,25 7% 40% 2% 4% 61003600
7 27/07/2018 366 5989,13623 8% 32% 2% 3% 36159000
7 18/07/2018 338 5890,730957 -4% 24% 1% 1% 39853900
7 09/07/2018 352 5807,375 6% -23% 28% 2% -1% 119694400
7 28/06/2018 330 5667,318848 -19% 22% -6% -3% 43531100
7 08/06/2018 400 5993,626953 -4% -17% 41% 0% 3% 24592400
7 30/05/2018 416 6011,055176 -6% 45% 5% 3% 22858700
7 21/05/2018 442,919983 5733,854004 -9% -6% 51% -10% -2% 76500200
7 20/04/2018 482,466431 6337,694824 5% 60% 0% 8% 0
7 11/04/2018 458,738556 6360,932129 -1% 55% 2% 9% 125538800
7 02/04/2018 464,670532 6240,570801 -2% 56% 0% 7% 28537000
7 22/03/2018 472,579803 6254,074219 -2% 16% 8% 25% 58% -3% 7% 51809700
7 13/03/2018 482,466431 6412,846191 0% 60% -3% 9% 23671500
7 02/03/2018 484,443726 6582,315918 0% 60% -1% 12% 49462300
7 21/02/2018 484,443726 6643,399902 19% 60% 2% 13% 126032900
7 12/02/2018 401,39624 6523,454102 -7% 6% 42% -1% 11% 100101100
7 01/02/2018 429,078735 6598,458984 -1% 48% -1% 12% 71153600
7 23/01/2018 435,010712 6635,333984 6% 16% 50% 4% 13% 156461300
7 12/01/2018 411,282837 6370,064941 8% 44% 2% 9% 134190700
7 03/01/2018 379,645691 6251,479004 3% 3% 36% 2% 7% 114998300
7 14/12/2017 369,759094 6113,652832 2% 33% 2% 5% 82683500
7 05/12/2017 361,849823 6000,474121 -11% 31% -1% 3% 292582600
7 24/11/2017 403,373566 6067,14209 9% 42% 2% 4% 60257600
7 15/11/2017 369,759094 5972,311035 17% 23% 30% 33% 33% 33% -1% 2% 109606000
7 06/11/2017 312,416779 6050,823242 -1% 16% 1% 4% 118720300
7 26/10/2017 316,371429 5995,847168 -4% 18% 1% 3% 36702900
7 17/10/2017 328,235352 5947,330078 11% 21% 1% 2% 171232700
7 06/10/2017 292,643555 5905,37793 -3% 15% 10% 1% 1% 32973000
7 27/09/2017 302,530182 5863,026855 10% 13% 0% 0% 363767500
7 18/09/2017 272,870361 5884,61084 14% 3% 3% 1% 1% 61001600
7 07/09/2017 237,278564 5832,311035 -6% -11% -1% 0% 95839000
7 29/08/2017 253,097137 5888,211914 1% -5% -5% 0% 1% 18175700
7 18/08/2017 251,119812 5893,84082 2% -5% 1% 1% 62688500
7 09/08/2017 247,165176 5824,006836 -7% -7% 0% 0% 26157400
7 31/07/2017 264,96106 5840,938965 0% 0% 0% 0% 65280800
Total Data 60 15 10 5 3
Average Return 1% 3% 4% 8% 13%
Probability 64,52% 16,13% 10,75% 5,38% 3,23%
Range (Without 19%
Negative Return)
Group of Return Group Range Median Return (Roundup) Group Amount Probability
Group 1 Return 0% - 5% 3% 44 73%
Group 2 Return >5% - 10% 8% 11 18%
Group 3 Return >10% - 15% 13% 3 5%
Group 4 Return >15% - 20% 18% 2 3%
Appendix 10
ELSA 60 Weeks Analysis
Probability (PELSA) Possible Rate of Return (R ELSA) Expected Security Return RELSA - E(RELSA)
73% 3% 1,83% -1,92% 0,000367361 0,000269398
18% 8% 1,38% 3,08% 0,000950694 0,000174294
5% 13% 0,63% 8,08% 0,006534028 0,000326701
3% 18% 0,58% 13,08% 0,017117361 0,000570579
E(RELSA)= 4,42% 0,001340972
4%
Appendix 11
ELSA 60 Week Foreign Flow Analysis
Date ELSA Adj Close ELSA Weekly Return FF Accumulated Inventory FF % Inventory Change
18/04/2019 386 2,62% 123.424.076 -2,41%
09/04/2019 376 4,35% 126.475.380 -5,96%
29/03/2019 360 -1,65% 134.484.327 -3,33%
20/03/2019 366 0,00% 139.122.924 -9,29%
11/03/2019 366 -0,54% 153.376.790 -1,82%
28/02/2019 368 -6,32% 156.224.189 -2,44%
19/02/2019 392 -0,51% 160.130.549 1,37%
08/02/2019 394 9,58% 157.968.383 -5,67%
30/01/2019 358 -2,75% 167.464.477 -7,44%
21/01/2019 368 2,20% 180.923.666 5,57%
10/01/2019 360 5,72% 171.385.511 6,72%
21/12/2018 340 -0,59% 160.594.254 2,85%
12/12/2018 342 2,37% 156.140.249 1,46%
03/12/2018 334 4,28% 153.895.299 -5,59%
22/11/2018 320 -9,53% 163.015.210 -2,48%
13/11/2018 352 -4,45% 167.161.797 -2,40%
02/11/2018 368 3,32% 171.265.021 -5,97%
24/10/2018 356 0,56% 182.137.486 -1,51%
15/10/2018 354 -8,65% 184.927.206 1,43%
04/10/2018 386 4,78% 182.317.941 0,53%
25/09/2018 368 4,45% 181.352.743 -5,47%
14/09/2018 352 6,45% 191.836.981 1,08%
05/09/2018 330 -9,81% 189.790.639 -7,39%
27/08/2018 364 5,07% 204.942.126 -6,44%
16/08/2018 346 -12,99% 219.038.416 -0,20%
07/08/2018 394 7,37% 219.473.886 -3,32%
27/07/2018 366 7,96% 227.013.836 -4,30%
18/07/2018 338 -4,06% 237.213.843 -0,91%
09/07/2018 352 6,45% 239.399.597 -0,62%
28/06/2018 330 -19,24% 240.894.403 -5,26%
08/06/2018 400 -3,92% 254.275.489 -1,96%
30/05/2018 416 -6,27% 259.370.192 -1,83%
21/05/2018 442,919983 -8,55% 264.196.635 3,65%
20/04/2018 482,466431 5,04% 254.881.246 15,39%
11/04/2018 458,738556 -1,28% 220.888.269 -2,66%
02/04/2018 464,670532 -1,69% 226.917.167 -1,51%
22/03/2018 472,579803 -2,07% 230.403.412 -2,82%
13/03/2018 482,466431 -0,41% 237.091.280 0,63%
02/03/2018 484,443726 0,00% 235.609.154 13,84%
21/02/2018 484,443726 18,81% 206.968.834 44,66%
12/02/2018 401,39624 -6,67% 143.072.838 1,64%
01/02/2018 429,078735 -1,37% 140.762.901 6,25%
23/01/2018 435,010712 5,61% 132.482.257 37,74%
12/01/2018 411,282837 8,00% 96.182.132 126,31%
03/01/2018 379,645691 2,64% 42.500.668 4,75%
14/12/2017 369,759094 2,16% 40.571.506 1,24%
05/12/2017 361,849823 -10,86% 40.075.813 16,41%
24/11/2017 403,373566 8,70% 34.425.037 37,31%
15/11/2017 369,759094 16,85% 25.070.337 205,20%
Appendix 11
ELSA 60 Week Foreign Flow Analysis
Date ELSA Adj Close ELSA Weekly Return FF Accumulated Inventory FF % Inventory Change
06/11/2017 312,416779 -1,26% - 23.831.915 -53,09%
26/10/2017 316,371429 -3,68% - 15.567.356 33,04%
17/10/2017 328,235352 11,48% - 23.249.773 58,56%
06/10/2017 292,643555 -3,32% - 56.109.279 16,79%
27/09/2017 302,530182 10,32% - 67.431.148 17,63%
18/09/2017 272,870361 13,98% - 81.866.185 13,68%
07/09/2017 237,278564 -6,45% - 94.837.467 1,62%
29/08/2017 253,097137 0,78% - 96.395.340 -5,06%
18/08/2017 251,119812 1,59% - 91.749.043 -1,36%
09/08/2017 247,165176 -6,95% - 90.520.104 -2,62%
31/07/2017 264,96106 0,00% - 88.211.679 0,00%
Appendix 12
Regression Result
IHSG-ELSA
SUMMARY OUTPUT
Regression Statistics
Multiple R 0,480188155
R Square 0,230580664
Adjusted R Square 0,217314813
Standard Error 0,063337787
Observations 60
ANOVA
df SS MS F Significance F
Regression 1 0,069729019 0,069729019 17,38152123 0,000103307
Residual 58 0,232677167 0,004011675
Total 59 0,302406186
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95,0% Upper 95,0%
Intercept 0,003805624 0,008198226 0,464200909 0,64424151 -0,012604909 0,020216157 -0,012604909 0,020216157
X Variable 1 1,369336733 0,328447807 4,169115161 0,000103307 0,711877014 2,026796451 0,711877014 2,026796451
RESIDUAL OUTPUT
SUMMARY OUTPUT
Regression Statistics
Multiple R 0,446813521
R Square 0,199642323
Adjusted R Square 0,185843053
Standard Error 0,064598643
Observations 60
ANOVA
df SS MS F Significance F
Regression 1 0,060373073 0,060373073 14,46759999 0,000345214
Residual 58 0,242033112 0,004172985
Total 59 0,302406186
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95,0% Upper 95,0%
Intercept -0,001803654 0,008605595 -0,209590815 0,834721511 -0,019029624 0,015422316 -0,019029624 0,015422316
X Variable 1 0,094214974 0,024769754 3,803629844 0,000345214 0,044632925 0,143797023 0,044632925 0,143797023
RESIDUAL OUTPUT
Week Price Return - TKIM Price Return-ELSA Binary - TKIM Counting Runs - TKIM Binary - ELSA Counting Runs - ELSA
1 0,00% 0% 0 1 0 1
2 1,68% -7% 0 1 0 1
3 12,15% 2% 1 2 0 1
4 7,81% 1% 1 2 0 1
5 27,05% -6% 1 2 0 1
6 12,24% 14% 1 2 1 2
7 3,62% 10% 1 2 1 2
8 13,30% -3% 1 2 0 3
9 18,43% 11% 1 2 1 4
10 1,29% -4% 0 3 0 5
11 12,59% -1% 1 4 0 5
12 5,75% 17% 1 4 1 6
13 -5,75% 9% 0 5 1 6
14 -24,45% -11% 0 5 0 7
15 5,60% 2% 1 6 0 7
16 1,35% 3% 0 7 0 7
17 5,86% 8% 1 8 1 8
18 32,65% 6% 1 8 1 8
19 10,19% -1% 1 8 0 9
20 -16,31% -7% 0 9 0 9
21 11,24% 19% 1 10 1 10
22 37,01% 0% 1 10 0 11
23 -5,78% 0% 0 11 0 11
24 0,00% -2% 0 11 0 11
25 10,89% -2% 1 12 0 11
26 -0,71% -1% 0 13 0 11
27 10,86% 5% 1 14 1 12
28 40,87% -9% 1 14 0 13
29 10,34% -6% 1 14 0 13
30 25,98% -4% 1 14 0 13
31 -1,35% -19% 0 15 0 13
32 -21,19% 6% 0 15 1 14
33 3,66% -4% 1 16 0 15
34 -2,73% 8% 0 17 1 16 Parameter TKIM ELSA
35 5,05% 7% 1 18 1 16 R= 33 29
36 -5,97% -13% 0 19 0 17 n0 = 30 40
37 14,56% 5% 1 20 1 18 n1 = 30 20
38 -17,59% -10% 0 21 0 19 n= 60 60
39 12,63% 6% 1 22 1 20 E(R) = 31 27,66667
40 -8,86% 4% 0 23 1 20 Var (R) = 14,74576 11,60075
41 -7,50% 5% 0 23 1 20 StDev (R) = 3,840021 3,405988
42 -22,02% -9% 0 23 0 21 Z (R) = 0,52083 0,391467
43 4,38% 1% 1 24 0 21 P Value = 0,698758 0,652274
44 -6,39% 3% 0 25 0 21
45 12,40% -4% 1 26 0 21
46 13,80% -10% 1 26 0 21
47 -12,91% 4% 0 27 1 22
48 1,76% 2% 0 27 0 23
49 -4,24% -1% 0 27 0 23
50 12,21% 6% 1 28 1 24
51 2,19% 2% 0 29 0 25
52 8,14% -3% 1 30 0 25
53 -6,77% 10% 0 31 1 26
54 -10,67% -1% 0 31 0 27
55 -3,30% -6% 0 31 0 27
56 -1,58% -1% 0 31 0 27
57 5,96% 0% 1 32 0 27
58 -7,10% -2% 0 33 0 27
59 -3,99% 4% 0 33 1 28
60 -3,65% 3% 0 33 0 29
Mean 3,58% 0,63%
Appendix 15
Portfolio Planning Summary
Assets s Weight (w) E(R) w.E(R) 60 - Weeks Abnormal Return RELSA - E(RELSA) RTKIM - E(RTKIM) [RELSA - E(RELSA)] x [RTKIM - E(RTKIM)]
ݓଶ
TKIM 8% 16,56% 0,027416297 0,006156 0,000169 9,67% 1,60% 202,57% -1,92% -4,67% 0,09% 0,03%
ELSA 4% 83,44% 0,69625895 0,001341 0,000934 4,42% 3,69% 27% sଶ 3,08% ݓଶ5,33%
sଶ 0,16% 10,38%
100% 0,001102 5,29% 8,08% 15,33% 1,24% Minimized 0,033817
13,08% 25,33% 3,31%
Appendix 16
Portfolio Realization
0,03%
10,38%
0,0449245