Bull breaks 5.923 sparks fly
Positive sentiment from the regional market side has helped the index withstand selling by the bear camp willing to pressure prices lower, such a show of strength suggests that downside below 5.810 may be improbable and that it may be only a matter of time before the index resumes an upward path breaking the 5.923 barrier and sparks fly until we see new territory at 6.020 or beyond.
Support: 5.850-5.810-5.745-5.650, Resistance: 5.923-6.020-6.250
Stock picks: (BUY: BBRI, GGRM, TINS, WIKA)
- Bank BRI (BBRI) (Trading target: Rp.15.650)
Entry (1) Rp.14.950, Entry (2) Rp.14.750, Cut loss point: Rp.14.250
- Gudang Garam (GGRM) (Trading target: Rp.69.000-71.500)
Entry (1) Rp.65.850., Entry (2) Rp.64.250, Cut loss point: Rp.63.750
- Tambang Timah (TINS) (Rp.890-950)
Entry (1) Rp.805, Entry (2) Rp.795, Cut loss point: Rp.785
- Wijaya Karya (WIKA) (BUY) (Trading Target: Rp.1.850-1.940)
Entry (1) Rp.1.800, Entry (2) Rp.1.760, cut loss point: Rp.1.710
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Yuganur Wijanarko Senior Research
