Bull meets resistance for now…
We look at the recent hurdle in the bull moving upward in form of selling at resistance by the bear camp as only a temporary delay in the overall bullish short term trend to move the index above the psychological resistance of 5.200 and making it as new support for a push to close the upper the first price gap at 5.270, thus recommend to build positions for the upcoming scenario.
Support: 5.120-5.040-4.975, Resistance: 5.270-5.370-5.410-5.525-5.620
Stock picks: (BUY: BBRI, TBLA, ASII, WSBP)
1. Bank BBRI (BBRI) (Trading target: Rp.11.550-11.900)
Entry (1) Rp.11.250, Entry (2) Rp.11.175, Cut loss point: Rp.11.075
2. Tunas Baru Lampung (TBLA) (Trading target Rp.960-990)
Entry (1) Rp.920, Entry (2) Rp.910, Cut loss point: Rp.895
3. Astra International (ASII) (Trading target Rp.7.850-8.050)
Entry (1) Rp.7.625, Entry (2) Rp.7.525, Cut loss point: Rp.7.425
4. Waskita Beton (WSBP) (BUY) (Trading Target Rp.580-630)
Entry (1) Rp.555, Entry (2) Rp.535, cut loss point: Rp.525
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
