Bull consolidates new gains, beware of a pullback
Impressive as it seems the index running upward to all time new highs, overbought conditions and profit takers have kicked in and forced the bull to consolidate gains in the upper zone, beware of a sudden pullback to 6.420 at least which may proceed downward to 6.320.
6.420-6.320-6.220-6.120-5.950-5.840-5.745, Resistance: 6.650-6.700-6.750
Stock picks: (BUY: ICBP, BBRI, BMTR, MAIN)
- Indofood CBP (ICBP) (Trading target: Rp.8.950-9.250)
Entry (1) Rp.8.550, Entry (2) Rp.8.450, Cut loss point: Rp.8.350
- Bank BRI (BBRI) (Trading target Rp.4.080-4.180)
Entry (1) Rp.3.680, Entry (2) Rp.3.580, Cut loss point: Rp.3.420
- Jasa Marga (JSMR) (Trading target Rp.6.175-6.275)
Entry (1) Rp.5.825, Entry (2) Rp.5.725, Cut loss point: Rp.5.525
- Malindo (MAIN) (BUY) (Trading Target: Rp.750-800)
Entry (1) Rp.690, Entry (2) Rp.680, cut loss point: Rp.660
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Yuganur Wijanarko Senior Research
(yuganur.wijanarko@kgi.com) (kgi.id)
