Correction IHSG restrained, bull ready to lunge back
We see that even though the bears are often forced to sell off their intraday sudden regional volatility but purchasing a bull is still able to resist further downward momentum that scenario to test the IHSG climbed back above resistance at 5410-5470 can still happen in the near future, the recommendation that the accumulation of more intensive.
Support: 5.370-5.310-5.280-5.130, Resistance: 5.470-5.525-5.600
Stock picks: (BUY: BBRI, INDY, TLKM, WTON)
1. Bank BRI (BBRI) (Trading targets: Rp.12.600)
Technically pattern of short and medium-term improvement trend in big cap banking emitten This makes it interesting to see the performance expektasi accumulated earnings fore in 2016-2017 with the next hike scenario towards psychological resistance at Rp.12.600.
Entry (1) Rp.12.125, Entry (2) Rp.11.950, Cut loss point: Rp.11.650
2. Indika Energy (INDY) (Trading targets Rp.720-740)
Commodity prices began bottoming in the low 10 last year and the valuation of the sector are quite cheap after depressed for so long to make this mine emitten interesting to term accumulation medium term, the recommendation that the accumulation for the next potential increase to Rp.720-740
Entry (1) Rp.685, Entry (2) Rp.675, Cut loss point: Rp.655
3. Telecommunications (TLKM) (Trading targets Rp.4.250-4.350)
Technically, the short and medium term improvement emitten telco bumn big cap can be used as an accumulation for the continuation of the increase in short and medium term to Rp.4.250-4.350 next.
Entry (1) Rp.4.180, Entry (2) Rp.4.120, Cut loss point: Rp.4.075
4. Wika Beton (WTON) (BUY) (Trading Target Rp.960-980)
Pattern renewed momentum in the short and medium state-owned construction emitten can be used as a trading opportunity following the continuation of the next higher resistance to psychological Rp.960-980.
Entry (1) Rp.935, Entry (2) Rp.925, cut loss point: Rp.915
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Disclaimer: This document has been prepared by PT.KGI Sekuritas Indonesia. The information has been compiled from public source, which we believe to be reliable but no representation or warranty, express or implied is made as to accuracy, completeness or fairness of the information and opinions contained in this document. Information and opinion contained herein are used to assist recipients, but are not to be relied upon as authoritative or taken in substitution for the exercise of judgment by any recipients as of this date. Any opinion and expressed in this report are subject to change without notice and PT. KGI Sekuritas Indonesia is not under obligation to update or keep current the information contained herein. This report is not, and should not be construed as, an offer or solicitation to buy or to sell any securities. PT. KGI Sekuritas Indonesia accepts no liabilities whatsoever for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any statement or omission in any information contained in this report. No part of this report may be produced, distributed or published without the written permission of PT. KGI Sekuritas Indonesia. All rights reserved
Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com)
