IDX consolidating awaiting breakout
We look at the recent consolidation in the index to still continue between the 100-point or so range of 5.810-5.920 with bias on a breakout above 5.920 setting new territory above the 6.020 level, thus recommend in buying big cap index drivers and second liners in a more aggressive fashion.
Support: 5.810-5.745-5.650, Resistance: 5.920-6.020-6.250
Stock picks: (BUY: BBTN, TLKM, PTBA, PTPP)
- Bank BTN (BBTN) (Trading target: Rp.3.380-3.580)
Entry (1) Rp.3.170, Entry (2) Rp.3.070, Cut loss point: Rp.2.970
- Telkom (TLKM) (Trading target: Rp.4.820-5.020)
Entry (1) Rp.4.650., Entry (2) Rp.4.490, Cut loss point: Rp.4.380
- PT. Bukit Asam (PTBA) (Rp.10.700-10.950)
Entry (1) Rp.10.150, Entry (2) Rp.9.950 Cut loss point: Rp.9.650
- PP Persero (PTPP) (BUY) (Trading Target: Rp.2.550-2.850)
Entry (1) Rp.2.370, Entry (2) Rp.2.290, cut loss point: Rp.2.190
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)
PT. Bukit Asam (PTBA) (Rp.10.500-15.950)
