Bulls arise, bears retire
We look at the recent heavy daily selling by the bear camp followers to recede and give way to what seems to be a possible short term trend reversal back above 5.650 and heading onward towards the all time high of 5.745 which was achieved last week, recommend building positions on the long side more aggressively.
Support: 5.650-5.600-5.560-5.490, Resistance: 5.746-5.800-5.950-6.100
Stock picks: (BUY: BBTN, ASII, ADRO, WSKT)
- Bank BTN (BBTN) (Trading target: Rp.2.450-2.550)
Entry (1) Rp.2.320 Entry (2) Rp.2.285, Cut loss point: Rp.2.185
- Astra International (ASII) (Trading target Rp.9.150-9.550)
Entry (1) Rp.8.650, Entry (2) Rp.8.575, Cut loss point: Rp.8.475
- Adaro Energy (ADRO) (Trading target Rp.1.645)
Entry (1) Rp.1.500, Entry (2) Rp.1.470, Cut loss point: Rp.1.415
- Waskita (WSKT) (BUY) (Trading Target: Rp.2.350-2.450)
Entry (1) Rp.2.210, Entry (2) Rp.2.160, cut loss point: Rp.2.095
Disclaimer: Investasi di pasar modal adalah hal yang beresiko dan dapat mengakibatkan kerugian material. Tulisan ini hanya bertujuan hanya sekedar memberikan informasi dan tidak boleh ditafsirkan sebagai ajakan atau penawaran untuk membeli dan/atau menjual efek atau instrumen keuangan lainnya. Setiap keputusan investasi yang di ambil merupakan tanggung jawab sepenuhnya investor.
Disclaimer: This document has been prepared by PT.KGI Sekuritas Indonesia. The information has been compiled from public source, which we believe to be reliable but no representation or warranty, express or implied is made as to accuracy, completeness or fairness of the information and opinions contained in this document. Information and opinion contained herein are used to assist recipients, but are not to be relied upon as authoritative or taken in substitution for the exercise of judgment by any recipients as of this date. Any opinion and expressed in this report are subject to change without notice and PT. KGI Sekuritas Indonesia is not under obligation to update or keep current the information contained herein. This report is not, and should not be construed as, an offer or solicitation to buy or to sell any securities. PT. KGI Sekuritas Indonesia accepts no liabilities whatsoever for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any statement or omission in any information contained in this report. No part of this report may be produced, distributed or published without the written permission of PT. KGI Sekuritas Indonesia. All rights reserved
Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
