Bulls bounce off again from the 6.000 level aiming at 6.100-6.175 as next stops
As expected the recent corrective streak in the index sparked by the bear camp only proved to work off overbought excesses and failed to exert enough downside pressure to reverse the odds to the downside, recommend buying in big cap index drivers and second liners to support what seems to be another round of upside fireworks to 6.100-6.175.
Support: 6.000-5.950-5.840-5.810-5.745, Resistance: 6.175-6.250-6.350
Stock picks: (BUY: BBTN, LSIP, PTBA, WSBP)
- Bank BTN (BBTN) (Trading target: Rp.3.240-3.340)
Entry (1) Rp.3.010, Entry (2) Rp.2.970, Cut loss point: Rp.7.925
- London Sumatra (LSIP) (Trading target: Rp.1.500-1.600)
Entry (1) Rp.1.425, Entry (2) Rp.1.405 Cut loss point: Rp.1.375
- PT Bukit Asam (PTBA) (Rp.11.450-11.850)
Entry (1) Rp.10.800, Entry (2) Rp.10.600, Cut loss point: Rp.10.100
- Waskita Beton (WSBP) (BUY) (Trading Target: Rp.424-450)
Entry (1) Rp.408, Entry (2) Rp.403, cut loss point: Rp.394
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Yuganur Wijanarko Senior Research
