IDX in a negative trend
We look at the recent selling by bears at resistance points to confirm the notion that the index remains within a downtrend pattern, thus recommend only to buy on dips and sell on daily rallies as not be dragged down by downside momentum suddenly taking charge.
Support: 6.270-6.140-6.070-5.950-5.840, Resistance: 6.380-6.450-6.550-6.680
Stock picks: (BUY: ASII, ADRO, BBTN, BRPT)
- Astra (ASII) (Profit taking target: Rp.7.650-7.750-7.850)
Entry (1) Rp.7.320, Entry (2) Rp.7.250, Cut loss point: Rp.7.125
- Adaro Energy (ADRO) (Profit taking target Rp.2.450-2.550)
Entry (1) Rp.2.210, Entry (2) Rp.2.150, Cut loss point: Rp.2.090
- Bank BTN (BBTN) (Profit taking target Rp.3.940-4.140)
Entry (1) Rp.3.610, Entry (2) Rp.3.510, Cut loss point: Rp.3.440
- Barito Pacific (BRPT) (BUY) (Profit taking target: Rp.2.750-2.850)
Entry (1) Rp.2.480, Entry (2) Rp.2.410, cut loss point: Rp.2.350
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)
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