IDX entering the overbought zone, buy on the dip
After a major big move post long holidays over testing the 5.900 upper resistance level, profit taking has set by the bear camp unloading positions and hoping for lower levels, nevertheless recommend buying more in big cap index drivers and second liner items for a continuation o upside to the next psychological level at IDX 6.000.
Support: 5.820-5.745-5.650-5.560-5.495, Resistance: 5.900-6.000-6.100-6.400
Stock picks: (BUY: BJTM, ASII, LSIP, WSKT)
- Bank Jatim (BJTM) (Trading target: Rp.680-705-730)
Entry (1) Rp.650, Entry (2) Rp.635, Cut loss point: Rp.625
- Astra International (ASII) (Trading target: Rp.9.125-9.275)
Entry (1) Rp.8.775, Entry (2) Rp.8.675, Cut loss point: Rp.8.525
- London Sumatra (LSIP) (Trading target Rp.1.520-1.620)
Entry (1) Rp.1.390, Entry (2) Rp.1.360, Cut loss point: Rp.1.340
- Waskita (WSKT) (BUY) (Trading Target: Rp.2.450-2.550)
Entry (1) Rp.2.320, Entry (2) Rp.2.250, cut loss point: Rp.2.110
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
