IDX range edging higher
We look at the recent clobbering by the bear camp for the past two weeks keen on pushing prices lower, we note that the trading range for the index has edged higher to 5.850-5.920 from previously lower trading band of 5.750-5.850 this suggest that the market is in an accumulation phase and that positive momentum is indeed building for a run breaking out of the trading box to 5.920 and 6.020 respectively.
Support: 5.820-5.745-5.650, Resistance: 5.920-6.020-6.100-6.400
Stock picks: (BUY: BBRI, PGAS, ANTM, WSKT)
- Bank BRI (BBRI) (Trading target: Rp.15.400-15.900)
Entry (1) Rp.14.850, Entry (2) Rp.14.450, Cut loss point: Rp.14.150
- Perusahaan Gas (PGAS) (Trading target: Rp.2.250-2.350)
Entry (1) Rp.2.130, Entry (2) Rp.2.090, Cut loss point: Rp.2.010
- Aneka Tambang (ANTM) (Rp.800-870)
Entry (1) Rp.745, Entry (2) Rp.735, Cut loss point: Rp.715
- Waskita Karya (WSKT) (BUY) (Trading Target: Rp.2.380-2.480)
Entry (1) Rp.2.250, Entry (2) Rp.2.180, cut loss point: Rp.2.070
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Yuganur Wijanarko Senior Research
(yuganur.wijanarko@kgi.com) (kgi.id)
