IDX moves above 5.200, now bulls are on top of the bears
We look at the continued consistent buying in big cap index drivers and second liner items to support what seems to be a major turnaround in events which may result in bulls being in charge and on top of bears to reel the index up further and take out near term resistance levels of 5.370 and 5.410 respectively, recommend to build long positions for the subsequent upside.
Support: 5.270-5.200-5.120-5.080-5.040-4.975, Resistance: 5.370-5.410-5.525
Stock picks: (BUY: BBTN, INDY, PWON, WSKT)
1. Bank BTN (BBTN) (Trading target: Rp.1.790-1.850)
Entry (1) Rp.1.685, Entry (2) Rp.1.665, Cut loss point: Rp.1.645
2. Indika Energy (INDY) (Trading target Rp.840-890)
Entry (1) Rp.815, Entry (2) Rp.805, Cut loss point: Rp.785
3. Pakuwon (PWON) (Trading target Rp.700)
Entry (1) Rp.670, Entry (2) Rp.650, Cut loss point: Rp.630
4. Waskita (WSKT) (BUY) (Trading Target Rp.2.720)
Entry (1) Rp.2.495, Entry (2) Rp.2.475, cut loss point: Rp.2.455
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
