Bull back in the green zone moving on up
Although still experiencing the daily dose of selling by the bear camp intent on pushing the index to lower levels, continued positioning in big cap index drives and second liners by the bull camp has kept the index afloat above the crucial new intra-day support of 5.800 thus annulling downside scenarios and calling for another run upward to test near resistance at 5.870 and the all time high at 5.920 respectively.
Support: 5.745-5.650-5.560-5.495, Resistance: 5.870-5.920-6.000-6.100-6.400
Stock picks: (BUY: BBRI, PGAS, TINS, BSDE)
- Bank BRI (BBRI) (Trading target: Rp.15.750)
Entry (1) Rp.14.725, Entry (2) Rp.14.575, Cut loss point: Rp.14.275
- Perusahaan Gas (PGAS) (Trading target: Rp.2.450-2.550)
Entry (1) Rp.2.210, Entry (2) Rp.2.170, Cut loss point: Rp.2.085
- Tambang Timah (TINS) (Trading target Rp.835-875)
Entry (1) Rp.825, Entry (2) Rp.795, Cut loss point: Rp.785
- Bumi Serpong Damai (BSDE) (BUY) (Trading Target: Rp.1.835-1.935)
Entry (1) Rp.1.755, Entry (2) Rp.1.735, cut loss point: Rp.1.710
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Yuganur Wijanarko Senior Research
