IDX break yearly ceiling, bull runs wild
Although frequently plagued by daily selling from the bear camp in big cap index drivers and second liners on regional volatility and overbought conditions we remain confident that this is only a minor setback considering that the index had breached already the yearly resistance level of 5.470 which may open up more upside fireworks to test the all time high of 5.525.
Support: 5.410-5.350-5.280-5.130, Resistance: 5.525-5.600-5.750
Stock picks: (BUY: BMRI, ANTM, ADHI, BSDE)
1. Bank Mandiri (BMRI) (Trading target: Rp.11.400-11.600)
Entry (1) Rp.11.025, Entry (2) Rp.9.975, Cut loss point: Rp.9.875
2. Aneka Tambang (ANTM) (Trading target Rp.850-900)
Entry (1) Rp.795, Entry (2) Rp.785, Cut loss point: Rp.755
3. Adhikaraya (ADHI) (Trading target Rp.2.550-2.650)
Entry (1) Rp.2.410, Entry (2) Rp.2.350, Cut loss point: Rp.2.310
4. Bumi Serpong Damai (BSDE) (BUY) (Trading Target Rp.2.250-2.350)
Entry (1) Rp.2.130, Entry (2) Rp.2.090, cut loss point: Rp.2.040
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com)
