IDX tests resistance wait for profit takers to emerge
We look at the recent index slow rise to test the all time resistance at 6.560 should open the way for some profit takers to emerge and take some money off the table, recommend for buyers to wait on dips at support before building new positions and not take an aggressive chasing stance.
6.300-6.250-6.200-6.100-5.950-5.840-5.745, Resistance: 6.450-6.550
Stock picks: (BUY: TLKM, EXCL, INDF, TINS)
- Telekomunikasi (TLKM) (Trading target: Rp.4.250-4.350)
Entry (1) Rp.4.110, Entry (2) Rp.4.020, Cut loss point: Rp.3.900
- XL Axiata (EXCL) (Trading target Rp.3.320-3.420)
Entry (1) Rp.3.080, Entry (2) Rp.2.980, Cut loss point: Rp.2.880
- Indofood (INDF) (Trading target Rp.8.025-8.225)
Entry (1) Rp.7.775 Entry (2) Rp.7.675, Cut loss point: Rp.7.575
- Timah (TINS) (BUY) (Trading Target: Rp.925-935)
Entry (1) Rp.850, Entry (2) Rp.820, cut loss point: Rp.785
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Yuganur Wijanarko Senior Research
(yuganur.wijanarko@kgi.com) (kgi.id)
