IDX passes 5.967 positive momentum kicks in
Although still plagued by the bear camp selling off positions to pressure the market lower, a pattern of higher highs has still been maintained by the bulls confirming that the short term trend remains upward, the minor shaking in prices to work off overbought conditions should be used as a buying opportunity and wait for the swing back upward.
Support: 5.890-5.840-5.810-5.745-5.650, Resistance: 6.100-6.250-6.350
Stock picks: (BUY: ASII, GGRM, TLKM, BSDE)
- Astra International (ASII) (Trading target: Rp.8.400-8.700)
Entry (1) Rp.8.125, Entry (2) Rp.8.025, Cut loss point: Rp.7.925
- Gudang Garam (GGRM) (Trading target: Rp.68.000)
Entry (1) Rp.64.300, Entry (2) Rp.63.500, Cut loss point: Rp.62.500
- Telekomunikasi (TLKM) (Rp.4.700-4.900)
Entry (1) Rp.4.340, Entry (2) Rp.4.290, Cut loss point: Rp.4.210
- Bumi Serpong Damai (BSDE) (BUY) (Trading Target: Rp.1.850-1.920)
Entry (1) Rp.1.765, Entry (2) Rp.1.740, cut loss point: Rp.1.725
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Yuganur Wijanarko Senior Research
