IDX bounces, playing above the 5.200 level
Sentiment improving ahead of the expected Fed rate hike in mid-December has warded off selling by nervous bears on regional volatility and overnight mood swings to build what seems to be a sustainable base for rallying the index forward to move and stay above the previous 5.200, making it a new support for upside fireworks developing and taking out 5.270-5.370, thus recommend building long positions.
Support: 5.200-5.120-5.080-5.040-4.975, Resistance: 5.270-5.370-5.410-5.525
Stock picks: (BUY: BBNI, ADRO, TLKM, ADHI)
1. Bank BNI (BBNI) (Trading target: Rp.5.350-5.450)
Entry (1) Rp.5.175, Entry (2) Rp.5.075, Cut loss point: Rp.4.975
2. Adaro Energy (ADRO) (Trading target Rp.1.670-1.770)
Entry (1) Rp.1.610, Entry (2) Rp.1.575, Cut loss point: Rp.1.515
3. Telekomunikasi (TLKM) (Trading target Rp.3.970-4.070)
Entry (1) Rp.3.860, Entry (2) Rp.3.815, Cut loss point: Rp.3.775
4. Adhikarya (ADHI) (BUY) (Trading Target Rp.2.040-2.140)
Entry (1) Rp.1.905, Entry (2) Rp.1.890, cut loss point: Rp.1.815
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
