Bull hits a snag upstairs
Despite being held up at upper resistance by nervous bears selling on overnight regional volatility has stopped the bulls from reaching the next psychological resistance at 5.200, nevertheless we remain confident that this may only be a temporary setback and that bargain hunters may come out of the woodwork to set in motion a new round of upside fireworks which had been temporarily delayed.
Support: 5.090-5.040-4.975, Resistance: 5.190-5.270-5.370-5.410-5.525-5.620
Stock picks: (BUY: BMRI, ADRO, TLKM, BKSL)
1. Bank Mandiri (BMRI) (Trading target: Rp.10.800-11.400)
Entry (1) Rp.10.025, Entry (2) Rp.9.925, Cut loss point: Rp.9.825
2. Adaro Energy (ADRO) (Trading target Rp.1.750)
Entry (1) Rp.1.645, Entry (2) Rp.1.635, Cut loss point: Rp.1.615
3. Telekomunikasi (TLKM) (Trading target Rp.4.050-4.150)
Entry (1) Rp.3.820, Entry (2) Rp.3.780, Cut loss point: Rp.3.710
4. Bukit Sentul (BKSL) (BUY) (Trading Target Rp.102-107)
Entry (1) Rp.94, Entry (2) Rp.91, cut loss point: Rp.87
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) (kgi.id)
