IDX fall as a buying opportunity
We look at the recent correction phase in the index to work off overbought readings in the daily indicators as an opportunity to build positions in big cap index drivers and selective second liner items for a possible resumption in the delayed short term uptrend for taking out the next psychological resistance level of 5.300.
Support: 5.200-5.120-5.060-4.975, Resistance: 5.294-5.370-5.410-5.525-5.600
Stock picks: (BUY: BBRI, ANTM, BSDE, WSBP)
- Bank BRI (BBRI) (Trading target: Rp.11.650-11.950)
Entry (1) Rp.11.225, Entry (2) Rp.11.125, Cut loss point: Rp.10.925
- Aneka Tambang (ANTM) (Trading target Rp.1.000-1.050)
Entry (1) Rp.955, Entry (2) Rp.945, Cut loss point: Rp.935
- Bumi Serpong Damai (BSDE) (Trading target Rp.1.890-1.950)
Entry (1) Rp.1.825, Entry (2) Rp.1.795, Cut loss point: Rp.1.745
- Waskita Beton (WSBP) (BUY) (Trading Target: Rp.580-610)
Entry (1) Rp.555, Entry (2) Rp.545, cut loss point: Rp.535
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
