Bull ramming the 5.700 level
Although still experiencing the daily dosage of selling by the bear camp on overnight volatility in regional markets and EIDO, consistent buying by the bull camp in big cap index drivers and second liners managed to cap further downside below the psychological support of 5.600, thus we remain confident that the short term odds may reverse for a possible rally to take out the next psychological resistance at 5.700.
Support: 5.600-5.550-5.490-5.410, Resistance: 5.690-5.750-5.850
Stock picks: (BUY: BBRI, TLKM, AALI, LPKR)
- Bank BRI (BBRI) (Trading target: Rp.13.750-14.275)
Entry (1) Rp.12.975, Entry (2) Rp.12.700, Cut loss point: Rp.12.350
- Telekomunikasi (TLKM) (Trading target Rp.4.350-4.550)
Entry (1) Rp.4.120, Entry (2) Rp.4.050, Cut loss point: Rp.3.975
- Asta Agro Lestari (AALI) (Trading target Rp.15.450-15.950)
Entry (1) Rp.14.520, Entry (2) Rp.14.250, Cut loss point: Rp.13.950
- Lippo Karawaci (LPKR) (BUY) (Trading Target: Rp.775-840)
Entry (1) Rp.720, Entry (2) Rp.690, cut loss point: Rp.650
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
