Bulls bounce off 5.800 the rally continues
Bulls bounce back from the 5.800 level despite continuous attempts by the bear camp in selling to pressure prices lower, thus it may be safe to assume that the directional probabilities may be geared towards a run resistance at the next near term barrier of 5.870 and the all time high at 5.920 rather than a fall to 5.745 and below.
Support: 5.745-5.650-5.560-5.495, Resistance: 5.870-5.920-6.000-6.100-6.400
Stock picks: (BUY: BBRI, INDF, BUMI, BSDE)
- Bank BRI (BBRI) (Trading target: Rp.15.350-15.850)
Entry (1) Rp.14.775, Entry (2) Rp.14.675, Cut loss point: Rp.14.575
- Indofood (INDF) (Trading target: Rp.8.850-9.050)
Entry (1) Rp.8.375, Entry (2) Rp.8.275, Cut loss point: Rp.8.175
- Bumi Resources (BUMI) (Rp.365-395)
Entry (1) Rp.340, Entry (2) Rp.335, Cut loss point: Rp.328
- Bumi Serpong Damai (BSDE) (BUY) (Trading Target: Rp.1.925)
Entry (1) Rp.1.775, Entry (2) Rp.1.715, cut loss point: Rp.1.685
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Yuganur Wijanarko Senior Research
