IDX above 5.120, bull feels confident, bears get dented.
We look at the recent constant buying in big cap index drivers and second liner items by the bull camp has successfully kept the index buoyant above the 5.120 level despite daily bouts of selling, thus it may be safe to presume that another round of upside fireworks could develop for taking out near term resistance at 5.200 and the first price gap at 5.270.
Support: 5.120-5.040-4.975, Resistance: 5.270-5.370-5.410-5.525-5.620
Stock picks: (BUY: BJBR, TINS, AISA, BSDE)
1. Bank Jabar (BJBR) (Trading target: Rp.1.525-1.625)
Entry (1) Rp.1.440, Entry (2) Rp.1.410, Cut loss point: Rp.1.385
2. Timah (TINS) (Trading target Rp.1.140-1.240)
Entry (1) Rp.1.045, Entry (2) Rp.1.015, Cut loss point: Rp.995
3. Tiga Pillar (AISA) (Trading target Rp.2.150)
Entry (1) Rp.1.970, Entry (2) Rp.1.910, Cut loss point: Rp.1.850
4. Bumi Serpong Damai (BSDE) (BUY) (Trading Target Rp.1.900-2.100)
Entry (1) Rp.1.805, Entry (2) Rp.1.785, cut loss point: Rp.1.755
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
